Ministry of Finance Department of Revenue Central Board of Direct Taxes

Notification u/s 54EC of the Income Tax Act, 1961 in the case of Indian Renewable Energy Development Agency (IREDA)

Issue Date: 09 July 2025 Published: 09 July 2025

Gazette ID: CG-DL-E-09072025-264491 Download PDF

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Core Purpose

The Central Government notifies bonds issued by the Indian Renewable Energy Development Agency (IREDA) as 'long-term specified asset' for the purposes of section 54EC of the Income-tax Act, 1961.

Detailed Summary

The Ministry of Finance, Department of Revenue, through the Central Board of Direct Taxes, issued Notification S.O. 3060(E) on July 9, 2025. In exercise of powers conferred by clause (ba) of Explanation to section 54EC of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies bonds issued by the Indian Renewable Energy Development Agency (IREDA), a Public Limited Government Company established as a Non-Banking Financial Institution, as 'long-term specified asset'. These notified bonds must be redeemable after five years and issued on or after the date of this notification, July 9, 2025. Furthermore, IREDA is mandated to utilize the proceeds from such bonds exclusively for renewable projects that can service their debt from project revenues, without relying on State Governments for debt service. This notification is identified as No. 73/2025/F. No. 225/192/2023 and signed by Dr. CASTRO JAYAPRAKASH T., Under Secretary.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-09072025-264491 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 2993] NEW DELHI, WEDNESDAY, JULY 9, 2025/ASHADHA 18, 1947 4513 GI/2025 (1) 2 THE GAZETTE OF INDIA : EXTRAORDINARY MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 9th July, 2025 [PART II—SEC. 3(ii)] S.O. 3060(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 bonds redeemable after five years and issued on or after the date of this notification, by the Indian Renewable Energy Development Agency (IREDA) (a Public Limited Government Company established as a Non-Banking Financial Institution), as 'long-term specified asset' for the purposes of the said section. 2. IREDA shall utilise the proceeds from such bonds only for those renewable projects which can service the debt out of the project revenues without being dependent on the State Governments for the service of debts. [Notification No. 73/2025/F. No. 225/192/2023] Dr. CASTRO JAYAPRAKASH T., Under Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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