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of <h1>Certain Equity Shares Designated as Long-Term Specified Securities Under Section 54EB of Income-tax Act, 1961</h1> The Central Board of Direct Taxes has designated certain equity shares as long-term specified securities under Section 54EB of the Income-tax Act, 1961. These shares, to be issued within one year from the notification date, are valued up to ten crores by a public company. Investments must be made from net consideration from the transfer of long-term capital assets. If these shares are transferred or converted into money within three years of allotment, the initial investment will be taxable as capital gains.
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