Central Government specifies the 11.5 per cent Industrial Development Bank of India, 2010 (Fifty-eighth Series), issued by the Industrial Development Bank of India, Bombay u/s 193(iib) - 1165 - Income Tax Act, 1961
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Specification of IDBI bonds requires transferee to notify issuer by registered post to secure proviso benefit on transfer. The Central Government specifies the IDBI Fifty-eighth Series bonds as eligible under the proviso to the Income tax Act provision governing tax treatment of security transfers. Transfers by endorsement or delivery qualify for the proviso benefit only if the transferee notifies the Industrial Development Bank of India by registered post within sixty days of the transfer.
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.
Specification of IDBI bonds requires transferee to notify issuer by registered post to secure proviso benefit on transfer.
The Central Government specifies the IDBI Fifty-eighth Series bonds as eligible under the proviso to the Income tax Act provision governing tax treatment of security transfers. Transfers by endorsement or delivery qualify for the proviso benefit only if the transferee notifies the Industrial Development Bank of India by registered post within sixty days of the transfer.
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