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of <h1>Tourism Finance Corporation's 7-Year Bonds Recognized for Tax Benefits Under Section 80L, Transfer Notification Required Within 60 Days.</h1> The Central Government has specified the 7-year, 13% taxable, secured, redeemable, non-convertible Series MB-I Bonds issued by the Tourism Finance Corporation of India Limited under section 80L of the Income-tax Act, 1961. These bonds are recognized for tax benefits under the specified clause. However, the benefit is only applicable if the transferee notifies the Corporation of the bond transfer via registered post within 60 days. This notification is issued under the authority of S. K. Gupta, Under Secretary to the Government of India, as per Notification No. S.O.11(E) dated January 6, 1992.
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