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of <h1>Wealth-Tax Act Notification: Tax Benefits for Specific Bonds Require Transferee Notification Within 60 Days of Transfer.</h1> Notification Number 0722(E), dated 17-07-1987, issued under the Wealth-tax Act, 1957, specifies certain debentures for tax purposes. These include: '7-Year 14% Secured Redeemable Non-Convertible Bonds (B-Series)' and '10-Year 10% (Tax free) Secured Redeemable Non-Convertible Bonds' by Indian Telephone Industries Limited, Bangalore; '10-Year 10% (Tax free) Secured Redeemable Non-Convertible Bonds' by Indian Railway Finance Corporation Limited; and similar bonds by Mahanagar Telephone Nigam Limited, New Delhi. The tax benefit applies only if the transferee informs the issuing company within sixty days of transfer.
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