Investment in specified long-term securities may defer capital gains but becomes taxable if converted or transferred within seven years. The notification specifies issuer-specific equity, preference shares, bonds and debentures as eligible long-term securities for investment of net consideration from a long-term capital asset transfer under section 54EB, subject to time-bound allotment limits, and provides that if such securities are transferred or converted into money within seven years of allotment the initial investment shall be chargeable to tax as a capital gain.