NHAI Discontinued Capital Gain Bonds under Sec 54EC w.e.f 1st April 2022

The National Highways Authority of India(NHAI) has stated in a letter that NHAI Bonds will be withdrawn on March 31, 2022.

The Authority also demanded in the letter that financial institutions disconnect the link for payment of NHAI Bonds under section 54EC of the Income Tax Act.

The Text of the Letter is Given Below:

The ongoing 54 bond issue of NHAI shall be closed today i.e. 31st March 2022.

2. The Government of India in IEBR for FY 2022-23 have not mandated NHAI to raise funds from the market. Therefore. NHAI shall not issue 54 EC Bonds and any other debt instruments/Bonds etc. w.e.f. 01.04.2022.

3. All are requested to please take a note of it and advise all your associates/brokers not to accept any fresh application and application money intended for allotment w.e.f. 01.4.2022 onwards.

4. NHAI has opened collection accounts with Banks for 54 EC Bonds. All the collecting banks are requested to freeze credit in these accounts w.e.f. 1st April 2022 so as to ensure that no amount of application money invested for seeking allotment of Bonds on or after 01.4.2022 is credited to these accounts. The amount held in these accounts till 31/03/2022 may be remitted to us positively on 02nd April 2022.

5. All NHAI at HQ and field offices are also requested not to accept any application for 54EC Bonds purported for allotment of bonds from 01.4.2022 onwards.

For Official Copy Download PDF Given Below: