Notification No. 31/2025 [F. No. 225/06/2024/ITA-II] / SO 1644(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)]

What this is

Notification No. 31/2025 [F. No. 225/06/2024/ITA-II] / SO 1644(E) was published on 7 April 2025. Its subject is 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)].

This notifies a named person, body, fund or instrument for the purpose of a provision. Nothing in it changes the provision itself.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.2	s.2, s.346, s.355
s.54EC	s.85

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 7th April, 2025
S.O. 1644(E).—In exercise of the powers conferred by clause (ba) of Explanation to section 54EC of the
Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that bonds redeemable after five years
and issued on or after 01st day of April, 2025, by the Housing and Urban Development Corporation Limited
(HUDCO) (a public financial institution notified by the Central Government under section 2(72) of the Companies
Act, 2013), as 'long-term specified asset' for the purposes of the said section.
2. HUDCO shall utilise the proceeds from such bonds only for those infrastructure projects which can service the
debt out of the project revenues without being dependent on the State Governments for the service of debts.
Explanation: For the purpose of this notification,
(a) 'Infrastructure' includes all infrastructure sub-sectors as defined vide notification no. 262 of the Department of
Economic Affairs, Ministry of Finance issued by F.No.13/1/2017-INF dated October 11, 2022 (Updated Harmonised
Master List of Infrastructure sub-sectors) and shall include any amendments or additions made thereof;
(b) 'Infrastructure project' means any project in Infrastructure sector.
[Notification No. 31/2025/F. No. 225/06/2024/ITA-II
CASTRO JAYAPRAKASH T., Under Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 89/2026-CBDT [F. No. 164/1/2026-ITA-1] / SO 3936(E) — Ministry of Finance 17 July 2026
Notification No. 75/2026 [F. No. 275/18/2026-IT(B)] / SO 3610(E) : TDS Exemption on Ship Lease Payments to IFSC Units — 4 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 3 July 2026
Notification No. 74/2026 [F. No. 275/16/2026-IT(B)] / SO 3609(E) : TDS Exemption on Aircraft Lease Payments to IFSC Units — 4 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 3 July 2026
Notification No. 65/2025 [F. No. 300196/4/2019-ITA-I] / S.O. 2739(E) — Ministry of Finance 19 June 2025
Notification No. 56 /2025 [F.No.300164/4/2024-ITA-1] / SO 2576(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 12 June 2025
Notification No. 52/2025 [F. No. 300164/5/2024-ITA-1] / SO 2447(E) — Ministry of Finance 30 May 2025

← Notification No. 30/2025 [F. No. 370142/29/2024-TPL] / GSR 221(E) · Notification No. 27/2025 [F. No. 370142/13/2025-TPL] / SO 1615(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.