HUDCO Bonds notified as long-term assets for section 54EC: CBDT has notified that bonds issued by the Housing and Urban Development Corporation Limited (HUDCO) on or after April 1, 2025, and redeemable after five years, will be treated as ‘long-term specified assets’ under Section 54EC of the Income-tax Act. These bonds qualify for exemption from capital gains tax if invested within the prescribed time. The notification mandates that HUDCO must utilize the funds raised through these bonds strictly for infrastructure projects that generate revenue independently and are not reliant on state government support for debt servicing. (Income Tax Notification 31/2025 Dated 07/04/2025)