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of <h1>Government Recognizes 7-Year 13% Bonds for Tax Benefits under Section 80L(1)(ii); Notify Transfers Within 60 Days</h1> The Central Government has specified the '7 Year 13% (Taxable) Secured Redeemable Non-Convertible Bonds (Series-I)' issued by the Nuclear Power Corporation of India Limited under section 80L(1)(ii) of the Income-tax Act, 1961. These bonds are recognized for tax benefits as per the specified clause. However, to avail the benefits upon transfer, the transferee must notify the Corporation by registered post within sixty days of the transfer. This notification was issued by the Under Secretary to the Government of India on March 28, 1988.
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