Housing & Urban Development Corporation Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015'. We wish to inform that CBDT, Department of Revenue, Ministry of Finance has permitted HUDCO to issue Capital Gain Tax Exemption bonds under Section 54EC of Income-tax Act, 1961
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HUDCO has received permission from the Central Board of Direct Taxes (CBDT), under the Ministry of Finance, to issue Capital Gain Tax Exemption bonds under Section 54EC of the Income-tax Act, 1961. These bonds are typically used by investors to park capital gains from the sale of assets like property, offering tax exemption on long-term capital gains. The permission allows HUDCO to raise funds through this specific bond category, which is a regular financing instrument for the company. The announcement is being made under Regulation 30 of SEBI LODR, indicating a material development for the company.
This is a routine regulatory permission that enables HUDCO to continue raising funds through 54EC bonds, a familiar financing route. It is broadly neutral for shareholders, as it does not indicate any equity dilution or major change in business operations.