# The Finance Act, 2006, Section 13: Amendment of section 54EC

- Act: The Finance Act, 2006
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2006/section/13/

## Text

Amendment of section 54EC. 13. In section 54EC of the Income-tax Act, after sub-section (3), in the Explanation, for clause (b), the following clause shall be substituted, namely:— ‘(b ) "long-term specified asset" means any bond, redeemable after three years and issued on or after the 1st day of April, 2006,— (i) by the National Highways Authority of India constituted under section 3 of the National Highways Authority of India Act, 1988 (68 of 1988), and notified by the Central Government in the Official Gazette for the purposes of this section; or (ii) by the Rural Electrification Corporation Limited, a company formed and registered under the Companies Act, 1956 (1 of 1956), and notified by the Central Government in the Official Gazette for the purposes of this section.’. © Copyright. Taxmann Publications Pvt. Ltd.

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