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REGD. No. D. L.-33004/99
The Gazette of India
CG-DL-E-08042025-262339
EXTRAORDINARY
PART II-Section 3-Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 1613]
NEW DELHI, TUESDAY, APRIL 8, 2025/CHAITRA 18, 1947
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 7th April, 2025
S.O. 1644(E).—In exercise of the powers conferred by clause (ba) of Explanation to section 54EC of the
Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that bonds redeemable after five years
and issued on or after 01st day of April, 2025, by the Housing and Urban Development Corporation Limited
(HUDCO) (a public financial institution notified by the Central Government under section 2(72) of the Companies
Act, 2013), as 'long-term specified asset' for the purposes of the said section.
2.
HUDCO shall utilise the proceeds from such bonds only for those infrastructure projects which can service the
debt out of the project revenues without being dependent on the State Governments for the service of debts.
Explanation: For the purpose of this notification,
(a) 'Infrastructure' includes all infrastructure sub-sectors as defined vide notification no. 262 of the Department of
Economic Affairs, Ministry of Finance issued by F.No.13/1/2017-INF dated October 11, 2022 (Updated Harmonised
Master List of Infrastructure sub-sectors) and shall include any amendments or additions made thereof;
(b) 'Infrastructure project' means any project in Infrastructure sector.
[Notification No. 31/2025/F. No. 225/06/2024/ITA-II
CASTRO JAYAPRAKASH T., Under Secy.