Tax exemption for specified secured bonds requires transferee to notify issuer within sixty days to retain benefit. The Central Government specifies the 10 Year 9% (Tax free) Secured Redeemable REC Bonds (15th Series), 1997 as eligible for the wealth tax benefit under clause (xvie) of sub section (1) of section 5 of the Wealth tax Act, 1957. The tax benefit on transfer by endorsement or delivery is subject to the condition that the transferee informs the issuing corporation by registered post within sixty days of such transfer.
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 exemption for specified secured bonds requires transferee to notify issuer within sixty days to retain benefit.
The Central Government specifies the 10 Year 9% (Tax free) Secured Redeemable REC Bonds (15th Series), 1997 as eligible for the wealth tax benefit under clause (xvie) of sub section (1) of section 5 of the Wealth tax Act, 1957. The tax benefit on transfer by endorsement or delivery is subject to the condition that the transferee informs the issuing corporation by registered post within sixty days of such transfer.
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