https://www.taxtmi.com/circulars?id=5130 Sections 54EA and 54EB exempt capital gains where proceeds are reinvested in Board notified instruments; HUDCO bonds and mutual fund units (three or seven year repurchase terms as applicable), seven year bank deposits and HUDCO seven year bonds are notified. Public companies and financial institutions issuing qualifying bonds, debentures or primary issue shares must obtain Board approval, invest 60% of investible capital in defined infrastructure/power/telephone/oil and gas, invest at least 25% in such infrastructure within one year and the balance within three years, file annual Accountant certificates, and face withdrawal of approval for non compliance. en-us Thu, 19 Dec 1996 00:00:00 +0530 Sat, 09 Aug 2008 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5130 Sections 54EA and 54EB exempt capital gains where proceeds are reinvested in Board notified instruments; HUDCO bonds and mutual fund units (three or seven year repurchase terms as applicable), seven year bank deposits and HUDCO seven year bonds are notified. Public companies and financial institutions issuing qualifying bonds, debentures or primary issue shares must obtain Board approval, invest 60% of investible capital in defined infrastructure/power/telephone/oil and gas, invest at least 25% in such infrastructure within one year and the balance within three years, file annual Accountant certificates, and face withdrawal of approval for non compliance. Circulars Income Tax Thu, 19 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5130