35.1 To provide relief from tax on long-term capital gain, a deduction up to Rs. 50 lakhs is available, if bonds of REC or NHAI are purchased within 6 months from the date of transfer.
35.2 At present, investments in NHAI or REC Bonds are the only eligible bonds for claiming the relief. Finance Bill provides that investment in any bond redeemable after 3 years and which will be notified by the Central Government, will also be eligible for deduction. Thus more bonds will be notified for the relief.