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of <h1>CBDT Defines Specific Equity Shares as Long-Term Securities Under Section 54EA; Rules for Tax Implications on Transfers.</h1> The Central Board of Direct Taxes (CBDT) has designated certain equity shares as long-term specified securities under Section 54EA of the Income-tax Act, 1961. These shares, issued by a public limited company, are to be released within a year from the notification date, with a cap of 90 crores INR. Investments must be made from the net consideration of a long-term capital asset transfer. If the shares are transferred or converted into money within three years of allotment, the initial investment will be taxed as capital gains.
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