Central Government specifies '11.5 per cent., IDBI Bonds 2009 (53rd Series)', issued by the Industrial Development Bank of India, Bombay u/s 193(iib) - S.O.403 - Income Tax Act, 1961
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Specified bonds designation requires transferee notification to issuer by registered post within sixty days for proviso tax benefit. Central Government designates 11.5 per cent., IDBI Bonds 2009 (53rd Series), issued by the Industrial Development Bank of India, Bombay, as specified securities under the proviso to section 193 of the Income-tax Act, 1961. The notification makes the proviso's benefit available on transfer by endorsement or delivery only if the transferee informs the Bank by registered post within sixty days of such transfer, imposing a transferee notification requirement as a condition for receiving the tax treatment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Specified bonds designation requires transferee notification to issuer by registered post within sixty days for proviso tax benefit.
Central Government designates 11.5 per cent., IDBI Bonds 2009 (53rd Series), issued by the Industrial Development Bank of India, Bombay, as specified securities under the proviso to section 193 of the Income-tax Act, 1961. The notification makes the proviso's benefit available on transfer by endorsement or delivery only if the transferee informs the Bank by registered post within sixty days of such transfer, imposing a transferee notification requirement as a condition for receiving the tax treatment.
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