Central Government Specifies 11% Industrial Finance Corporation Bonds, 2003 Under Section 193(iib) of Income-tax Act, 1961

The Central Government has specified the "11 per cent. Industrial Finance Corporation Bonds, 2003 (49th Series)" issued by the Industrial Finance Corporation of India, New Delhi, under section 193(iib) of the Income-tax Act, 1961. The notification, dated July 17, 1988, outlines that the benefits under this provision are applicable only if the transferee informs the Industrial Finance Corporation or the Reserve Bank of India of the bond transfer by registered post within sixty days. This specification is made under Notification No. S.O.2760.