Exemption from capital gains : Long-term capital assets for reinvestment specified - Reliance Telecom Ltd

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby specifies : ( a ) equity to be issued within a period of one year from the date of publication of this notification in the Official Gazette, of an amount not exceeding Rs. 1,524.3 crores by the Reliance Telecom Ltd., a public company registered under the Indian Companies Act, 195 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... id equity and debentures allotted to him in any manner within a period of three years from the date of their allotment the initial investment made by such assessee in the aforesaid equity and debentures shall be chargeable to tax under the head "Capital gains" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961. (Sd.) Promila Bhardwaj, Deputy Secreta .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X