Specification of debentures: government lists particular secured redeemable non-convertible bonds for wealth-tax recognition under the Wealth-tax Act notification. The Central Government, exercising its statutory specification power under the Wealth-tax Act, identifies two categories of 7 year secured, redeemable, non convertible bonds issued by public sector undertakings as specified debentures for the purposes of the wealth tax provision, by formal notification.
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Specification of debentures: government lists particular secured redeemable non-convertible bonds for wealth-tax recognition under the Wealth-tax Act notification.
The Central Government, exercising its statutory specification power under the Wealth-tax Act, identifies two categories of 7 year secured, redeemable, non convertible bonds issued by public sector undertakings as specified debentures for the purposes of the wealth tax provision, by formal notification.
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