Central Government specifies the following bonds, issued by the Industrial Development Bank of India, established under the Industrial Development Bank of India Act, 1964 (18 of 1964) u/s 80L - S.O.831(E) - Income Tax Act, 1961
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Tax exemption for specified IDBI bonds under section 80L; transferee must notify issuing bank within sixty days. Central Government specifies three categories of bonds issued by the Industrial Development Bank of India as qualifying under Section 80L: 15% Non Convertible Bonds (Cumulative Series I), 15% Non Convertible Bonds (Non Cumulative Series I), and Deep Discount Bonds (Series I) redeemable at face value after a long term. The specified benefit is admissible on transfer only if the transferee informs the issuing Bank 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.
Tax exemption for specified IDBI bonds under section 80L; transferee must notify issuing bank within sixty days.
Central Government specifies three categories of bonds issued by the Industrial Development Bank of India as qualifying under Section 80L: 15% Non Convertible Bonds (Cumulative Series I), 15% Non Convertible Bonds (Non Cumulative Series I), and Deep Discount Bonds (Series I) redeemable at face value after a long term. The specified benefit is admissible on transfer only if the transferee informs the issuing Bank by registered post within sixty days of the transfer.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
