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of <h1>Central Government Specifies Tax Benefits for Certain IDBI Bonds Under Section 193(iib) of Income-tax Act, 1961.</h1> The Central Government, under the powers granted by section 193(iib) of the Income-tax Act, 1961, specifies certain bonds issued by the Industrial Development Bank of India, Bombay, for tax purposes. These include the 11.50% IDBI Bonds, 2008 (Fiftieth Series) and the 11.50% IDBI Bonds, 2009 (Fifty-first Series). The tax benefit is applicable only if the transferee notifies the Industrial Development Bank of India by registered post within sixty days of the bond transfer.
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