Tax-free bond specification conditions exemption on holder registration for specified secured redeemable non-convertible bonds. Central Government specifies certain Power Grid Corporation secured redeemable non-convertible bonds as tax-free under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, identifying the issue by distinctive numbering and unit value; the exemption is admissible only if the bondholder registers his name and holding with the issuer.
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Provisions expressly mentioned in the judgment/order text.
Tax-free bond specification conditions exemption on holder registration for specified secured redeemable non-convertible bonds.
Central Government specifies certain Power Grid Corporation secured redeemable non-convertible bonds as tax-free under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, identifying the issue by distinctive numbering and unit value; the exemption is admissible only if the bondholder registers his name and holding with the issuer.
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