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of <h1>Tax Benefits for 12.5% HDFC Bonds 1998 Require Transferee Notification Within 60 Days Under Section 193(iib)</h1> The Central Government has specified the '12.5% HDFC Bonds, 1998' issued by the Housing Development Finance Corporation Limited, Bombay, under section 193(iib) of the Income-tax Act, 1961. This notification, dated June 18, 1988, outlines that the tax benefits associated with these bonds will apply only if the transferee informs the corporation of the transfer by registered post within sixty days. This specification is made under the powers conferred by the relevant section of the Income-tax Act, ensuring compliance with the conditions for tax benefits on these bonds.
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