National Highway Authority and Rural Electrification Corporation Bonds notified as 'long-term specified asset’
Long term capital gains are exempted if they are invested in 'long-term specified asset’ for a period of three years. Now the Government has notified the bonds for an amount of Rupees one thousand five hundred crores (redeemable after three years) to be issued by the National Highways Authority of India and the Rural Electrification Corporation during the financial year 2006-07 as 'long-term specified asset’
NOTIFICATION NO. 142 and 143/2006, Dated: June 29, 2006