Central Government specifies the 7-year 13 per cent. (Taxable) Secured Redeemable Non-Convertible (Series MB-I) Bonds, issued by the Tourism Finance Corporation of India Limited u/s 80L - S.O.11(E) - Income Tax Act, 1961
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Specified bonds under section 80L carry tax benefit on transfer subject to a post-transfer notice requirement. The Central Government specifies 7-year secured redeemable non-convertible bonds issued by the Tourism Finance Corporation of India Limited as qualifying for the tax concession under the Income-tax Act, and provides that the tax benefit on transfer of such bonds is admissible only if the transferee informs the Corporation 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.
Specified bonds under section 80L carry tax benefit on transfer subject to a post-transfer notice requirement.
The Central Government specifies 7-year secured redeemable non-convertible bonds issued by the Tourism Finance Corporation of India Limited as qualifying for the tax concession under the Income-tax Act, and provides that the tax benefit on transfer of such bonds is admissible only if the transferee informs the Corporation by registered post within sixty days of the transfer.
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