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of <h1>New Bonds Designated as Long-Term Securities Under Section 54EB; Investments Taxable if Sold Within Seven Years.</h1> The Central Board of Direct Taxes has issued a notification under section 54EB of the Income-tax Act, 1961, designating certain bonds as long-term specified securities. These bonds, to be issued by a financial services company within one year from the notification date, will have a total value not exceeding 50 crores rupees. Investments must be made from net consideration from the transfer of long-term capital assets. If the bonds are transferred or converted into money within seven years, the initial investment will be taxable as capital gains.
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