Issue of tax free bonds by India Infrastructure Finance Company Limited, carrying an interest rate of upto maximum 8 per cent annum - 09/2009 - Income Tax Act, 1961
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Tax-free bonds permit capped interest and require holder registration to secure tax exemption. Government specification allows a designated infrastructure finance corporation to issue tax-free bonds in the 2008-09 financial year with interest capped at eight percent per annum and an aggregate notified issue; the tax exemption applies only where each bondholder registers their name and holding with the issuer.
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-free bonds permit capped interest and require holder registration to secure tax exemption.
Government specification allows a designated infrastructure finance corporation to issue tax-free bonds in the 2008-09 financial year with interest capped at eight percent per annum and an aggregate notified issue; the tax exemption applies only where each bondholder registers their name and holding with the issuer.
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