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CBDT notifies Notification No. 79/2017

MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

New Delhi, the 8th August, 2017

INCOME-TAX

S.O. 2529(E).—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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