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of <h1>Central Govt Defines NTPC Bonds for Wealth Tax Benefits Under Section 5(1)(xvie) of Wealth-tax Act, 1957</h1> The Central Government, under section 5(1)(xvie) of the Wealth-tax Act, 1957, specifies certain debentures for wealth tax purposes. These include the '10-Year 10 percent (Tax Free) Secured Redeemable NTPC Bonds-1986-First Series' and the '7-Year 14 percent Secured Redeemable NTPC Bonds-1986-Second Series,' both issued by the National Thermal Power Corporation Limited. The tax benefit is applicable upon the transfer of these bonds if the transferee notifies the corporation by registered post within sixty days of the transfer.
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