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of <h1>Power Finance Corporation's 7-year 17% Bonds Gain Tax Benefits Under Section 80L(1)(ii) of Income-tax Act, 1961.</h1> The Central Government specifies the 7-year 17% taxable Secured Redeemable PFC Bonds (First Series) issued by Power Finance Corporation Limited under section 80L(1)(ii) of the Income-tax Act, 1961. The notification, effective from the assessment year 1992-93 onward, states that tax benefits under this clause apply when these bonds are transferred by endorsement or delivery, provided the transferee informs the Corporation by registered post within sixty days of the transfer.
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