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of <h1>Central Government Recognizes HUDCO's 7-Year Taxable Bonds Under Section 193(iib) of Income-tax Act, 1961</h1> The Central Government has issued a notification specifying 7-year 13% taxable Secured Redeemable Non-Convertible Bonds (Series I) issued by the Housing and Urban Development Corporation Limited under section 193(iib) of the Income-tax Act, 1961. These bonds are recognized for the purposes of the specified clause, with the condition that the benefit under this clause is only applicable if the transferee informs the corporation of the bond transfer by registered post within sixty days. This notification was issued under Notification No. S.O.614(E) on September 19, 1991.
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