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CBDT Notifies Indian Railway Finance Corporation Limited Bond for Section 54EC Relief

In exercise of the powers conferred by clause (ba) of Explanation to section 54EC of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that any bond redeemable after three years and issued by the Indian Railway Finance Corporation Limited, a company formed and registered under the Companies Act, 1956 (1 of 1956), on or after the date of publication of this notification in the Official Gazette, as ‘long-term specified asset’ for the purposes of the said section.

[Notification No. 79/2017/F. No. 370142/18/2017-TPL]
PRAVIN RAWAL, Director (Tax Policy and Legislation)

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