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of <h1>7-Year 13% Taxable Bonds Eligible for Section 80L Tax Benefits; Notify Issuer on Transfer Within 60 Days</h1> The Central Government has specified the 7-year 13% taxable Non-Cumulative Secured Redeemable Bonds, 4th Series D(II), issued by a corporation in Bombay under section 80L of the Income-tax Act, 1961. These bonds are eligible for certain tax benefits as per clause (ii) of sub-section (1) of section 80L. However, if these bonds are transferred, the transferee must notify the issuing corporation by registered post within sixty days to avail of the benefits. This specification was issued under Notification No. S.O.720(E) on October 24, 1991.
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