« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  Report for tax cuts on G-sec investments... New CA syllabus announced... » FinMin no to raising bond limits of NHAI September, 02nd 2006 The finance ministry is not considering further increasing the bond limit of Rural Electrification Corporation and National Highways Authority of India. This move will impact investors who wanted to save on payment of capital gains tax by investing in these bonds. Bonds of REC and NHAI, to be issued during financial year 2006-07, had been notified by government on June 29 for Rs 4,500 crore and Rs 1,500 crore respectively. Both the bonds have been fully subscribed. There is no proposal at the moment to increase the limit of the bonds. Investors who are keen to invest their capital gains should park such gains in the capital gains bank account, A K Sinha, spokesperson for the Central Board of Direct Taxes said. Section 54EC of Income-tax Act, 1961, provides tax exemption on capital gains arising from the transfer of a long-term capital asset, if such capital gains are invested in certain bonds within a period of six months after the date of such transfer. The government had notified REC and NHAI bonds for the purpose in the budget this year. Asked when the CBDT would notify the final guidelines to establish whether an entity or individual investing in the stock market was an investor or a trader, Sinha said, The department is in the process of formulating the policy. It is likely to finalise its position in the next one or two months. Commenting on the income tax returns received, Sinha said 1.26 crore returns had been received during April 1-July 31 compared with 0.77 crore in the corresponding period last year. Of the total returns, 4 lakh returns had been filed through post offices. Asked if the Mauritius Double Taxation Avoidance Agreement was being reviewed, he said, Mauritius has agreed for discussion which includes everything including a review. He however declined to discuss the specifics of the case. On the issue of duplicate Permanent Account Numbers, he said the department had detected 13 lakh duplicate PANs which would be removed within the intended deadline of December 31.