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of <h1>Neyveli Lignite Corp's 7-Year 13% Bonds Get Tax Benefits Under Section 80L(1)(ii) of Income-tax Act, 1961.</h1> The Central Government has specified the '7-year 13% (taxable) Secured Redeemable Non-Convertible NLC Bonds (F-Series)' issued by Neyveli Lignite Corporation Limited under section 80L(1)(ii) of the Income-tax Act, 1961. These bonds are eligible for tax benefits as per the said section. The benefits are applicable upon transfer of the bonds, provided the transferee informs Neyveli Lignite Corporation by registered post within sixty days of the transfer. This specification is outlined in Notification No. S.O.138(E) dated February 27, 1991.
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