What are bonds under section 54ea and section 54eb.
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Quick Summary
This discussion clarifies specific sections related to capital gains tax exemptions, namely 54EA, 54EB, and 54EE. It explains that Sections 54EA and 54EB were applicable for long-term capital gains before April 1, 2000, and are no longer relevant. Section 54EE, intended for long-term specified assets issued before April 1, 2019, is also deemed ineffective as no units were ever issued under it.
As per the section 54EE of IT act, the Long term specified asset/Units should have been issued before 01.04.2019 and till date no unit has been issued thus this section is of no use now and it was just an exemption for name sake wherein no units had been announced by government.
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