PFC ALL SET TO LAUNCH ITS MAIDEN 54EC BOND ISSUE

Sarkaritel
By Sarkaritel June 17, 2017 08:50

PFC ALL SET TO LAUNCH ITS MAIDEN 54EC BOND ISSUE


Power Finance Corporation Ltd (PFC) has been allowed by Govt. to raise bonds eligible for capital gain tax exemption u/s 54EC of the Income Tax Act. Section 54EC provides that capital gain subject to a maximum of Rs. 50 lakhs arising from the transfer of a long term capital asset shall be exempt if the assesse invests the whole or any part of capital gains in certain specified bonds within a period of six months. An investor can save upto to a maximum Rs.10,00,000 by investing maximum permissible amount of Rs. 50 lakhs in these bonds.

PFC intends to launch its maiden 54EC bond issue shortly and will be kept on tap. Bonds will carry highest domestic credit ratings of ‘AAA’ from CRISIL, ICRA and CARE. As there is no cap on the amount that can be raised by the issuer, full allotment is assured to the investors up to the amount permitted u/s 54EC.

Sarkaritel
By Sarkaritel June 17, 2017 08:50

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