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of <h1>Indian Petrochemical Corporation's 7-Year Bonds Recognized for Tax Benefits Under Section 80L, Transfer Notification Required</h1> The Central Government specifies the '7-year 13% (taxable) Secured Redeemable Non-convertible IPCL Bonds' issued by the Indian Petrochemical Corporation Limited under section 80L of the Income-tax Act, 1961. These bonds are recognized for tax benefits under the specified clause, with the condition that any transfer of these bonds must be communicated to the corporation by the transferee via registered post within sixty days. This notification, dated August 31, 1989, is issued by the Under Secretary to the Government of India.
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