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of <h1>CBDT Designates Debentures as Long-Term Specified Securities Under Section 54EB of Income-tax Act, 1961</h1> The Central Board of Direct Taxes has designated certain debentures as long-term specified securities under section 54EB of the Income-tax Act, 1961. These debentures, issued by a public company, are to be released within one year from the notification date, with a cap of 15 crores INR. Investments must be made from the net consideration of a long-term capital asset transfer. If these debentures are transferred or converted into money within seven years of allotment, the initial investment will be subject to capital gains tax as per the Act.
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