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of <h1>Neyveli Lignite 13% Bonds Gain Tax Benefits Under Section 80L; Transferees Must Notify Corporation Within 60 Days</h1> The Central Government has specified the '7-year 13 per cent. (taxable) Secured Redeemable Non-Convertible NLC Bonds (D-series)' issued by Neyveli Lignite Corporation Limited under section 80L of the Income-tax Act, 1961. These bonds are eligible for tax benefits under the specified clause. However, for the benefits to apply in the case of bond transfer, the transferee must inform the Corporation by registered post within sixty days of the transfer. This notification is issued under Notification No. S.O.773(E) dated 29-9-1989.
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