Bonds issued by PFC Ltd eligible for Section 54EC Exemption

MINISTRY OF FINANCE

(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

Notification No. 47/2017-Income Tax

New Delhi, the 8th June, 2017

S.O. 1818(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 on or after the 15th day of June, 2017 by the Power Finance Corporation Limited, a company formed and registered under the Companies Act, 1956 (1 of 1956) as ‘long-term specified asset’ for the purposes of the said section.

[Notification No. 47/2017/ F. No. 370142/18/2017-TPL]

ABHISHEK GAUTAM,

Under Secy. (Tax Policy and Legislation)