Amendment of section 54EC

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..... assessee during any financial year does not exceed fifty lakh rupees."; (b) after sub-section (3), in the Explanation,- (i) for clause (b), the following clause shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2006, namely:- '(b) "long-term specified asset" for making any investment under this section during the period commencing from .....

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..... proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2006, namely:- "Provided that where any bond has been notified before the 1st day of April, 2007, subject to the conditions specified in the notification, by the Central Government in the Official Gazette under the provisions of clause (b) as they stood immediately before their amendment by .....

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