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of <h1>Tax Benefits for Specified Securities Under Section 54EB of Income-tax Act: Conditions and Limits Explained</h1> The Central Board of Direct Taxes, under section 54EB of the Income-tax Act, 1961, specifies certain securities as eligible for tax benefits. These include equity and preference shares, as well as bonds and debentures, issued by a specified company within one year from the notification's publication. The company may issue shares up to INR 40 crores and bonds up to INR 100 crores. Investments must be made from the net consideration of long-term capital asset transfers. If these securities are transferred or converted into money within seven years, the initial investment will be taxed as capital gains.
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