Power Finance Corporation Ltd (PFC), the state-owned power sector lender, today announced it has been allowed by the government to raise bonds eligible for capital gain tax exemption under section 54EC of the Income Tax Act.
Section 54EC provides that capital gain subject to a maximum of Rs 50 lakh arising from the transfer of a long term capital asset will be exempt if the assesse invests the whole or any part of capital gains in certain specified bonds within a period of six months. Read More…
Credit By: ET Energy World
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