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of <h1>Government Recognizes 11.5% Bonds, 2008 for Tax Benefits Under Section 193(iib); Notification Issued for Transfer Conditions</h1> The Central Government specifies the '11.5 per cent Bonds, 2008 (Fifty-first Series)' issued by the Industrial Finance Corporation of India, New Delhi, under section 193(iib) of the Income-tax Act, 1961. This notification, dated March 25, 1989, outlines that the benefits under the proviso to section 193 are applicable to these bonds. However, for the benefit to be admissible upon transfer, the transferee must inform the Industrial Finance Corporation of India or the Reserve Bank of India by registered post within sixty days of the transfer.
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