Amendment of section 54EC

In force Act 13 of 2018 As on 09 Oct 2026

Act 13 of 2018 Ministry Finance Cited by 1 provision

Section 21 of the Finance Act, 2018 deals with amendment of section 54EC. Amendment of section 54EC. 21. In section 54EC of the Income-tax Act, with effect from the 1st day of April, 2019,— (a) | in sub-section (1), after the words "long-term capital asset", the words ", being land or building or both," shall be inserted;

Amendment of section 54EC.
21. In section 54EC of the Income-tax Act, with effect from the 1st day of April, 2019,—
(a) in sub-section (1), after the words "long-term capital asset", the words ", being land or building or both," shall be inserted;
(b) in sub-section (2), before the Explanation, the following proviso shall be inserted, namely:—
'Provided that in case of long-term specified asset referred to in sub-clause (ii) of clause (ba) of the Explanation occurring after sub-section (3), this sub-section shall have effect as if for the words "three years", the words "five years" had been substituted.'.
(c) in the Explanation occurring after sub-section (3), for clause (ba), the following clause shall be substituted, namely:—
'(ba) "long-term specified asset" for making any investment under this section,—
(i) on or after the 1st day of April, 2007 but before the 1st day of April, 2018, means any bond, redeemable after three years and issued on or after the 1st day of April, 2007 but before the 1st day of April, 2018;
(ii) on or after the 1st day of April, 2018, means any bond, redeemable after five years and issued on or after the 1st day of April, 2018, by the National Highways Authority of India constituted under section 3 of the National Highways Authority of India Act, 1988 (68 of 1988) or by the Rural Electrification Corporation Limited, a company formed and registered under the Companies Act, 1956 (1 of 1956) or any other bond notified in the Official Gazette by the Central Government in this behalf.'.
Section 21, The Finance Act, 2018 (Act 13 of 2018).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

Referred to by 1

s. 202 Amendment of section 21

Questions about Section 21

What does Section 21 of the Finance Act deal with?

Section 21 of the Finance Act is headed "Amendment of section 54EC". Amendment of section 54EC. 21. In section 54EC of the Income-tax Act, with effect from the 1st day of April, 2019,— (a) | in sub-section (1), after the words "long-term capital asset", the words ", being land or building or both," shall be inserted;

How do I find court cases under Section 21 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2018 21, section 21 Finance Act 2018, section 21 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 21 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 54EC (Capital gain not to be charged on investment in certain bonds), National Highways Authority of India Act 3 (Constitution of the Authority), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 2018 as Act 13 of 2018. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

First Schedule. INCOME-TAX8472 words
2. Income-tax4233 words
206. Amendment of Act 54 of 20001580 words
Second Schedule. Second Schedule1062 words
33. Insertion of new section 112A756 words
63. Amendment of section 28707 words

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.

(a)		in sub-section (1), after the words "long-term capital asset", the words ", being land or building or both," shall be inserted;
(b)		in sub-section (2), before the Explanation, the following proviso shall be inserted, namely:—
		'Provided that in case of long-term specified asset referred to in sub-clause (ii) of clause (ba) of the Explanation occurring after sub-section (3), this sub-section shall have effect as if for the words "three years", the words "five years" had been substituted.'.
(c)		in the Explanation occurring after sub-section (3), for clause (ba), the following clause shall be substituted, namely:—

(i)		on or after the 1st day of April, 2007 but before the 1st day of April, 2018, means any bond, redeemable after three years and issued on or after the 1st day of April, 2007 but before the 1st day of April, 2018;
(ii)		on or after the 1st day of April, 2018, means any bond, redeemable after five years and issued on or after the 1st day of April, 2018, by the National Highways Authority of India constituted under section 3 of the National Highways Authority of India Act, 1988 (68 of 1988) or by the Rural Electrification Corporation Limited, a company formed and registered under the Companies Act, 1956 (1 of 1956) or any other bond notified in the Official Gazette by the Central Government in this behalf.'.