Notifies the 'NRI Bonds, 1988' issued by the State Bank of India, a bank established under section 3 of the State Bank of India Act, 1955 (23 of 1955) u/s 10(15)(iib) - S.O.847(E) - Income Tax Act, 1961
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Tax notification: NRI bond exemption under section 10(15) designates SBI-issued 1988 bonds as tax-exempt. Central Government notifies that the 'NRI Bonds, 1988' issued by the State Bank of India are brought within the exemption under sub-clause (iid) of clause (15) of section 10 of the Income-tax Act, 1961, designating those bonds for the purposes of that sub-clause and thereby specifying their tax treatment.
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Tax notification: NRI bond exemption under section 10(15) designates SBI-issued 1988 bonds as tax-exempt.
Central Government notifies that the "NRI Bonds, 1988" issued by the State Bank of India are brought within the exemption under sub-clause (iid) of clause (15) of section 10 of the Income-tax Act, 1961, designating those bonds for the purposes of that sub-clause and thereby specifying their tax treatment.
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