Specified bonds under Wealth tax provisions: transfer benefit for MTNL bond issues requires transferee to give registered notice within sixty days. Government specifies two categories of MTNL bonds under clause (xvie) of sub section (1) of section 5 of the Wealth tax Act: 7 year 13% (Taxable) Secured Redeemable Non Convertible Bonds (2nd issue) and 10 year 9% (Tax Free) Secured Redeemable Non Convertible Bonds (2nd issue). The benefit under that clause is admissible on transfer by endorsement or delivery only if the transferee informs the company 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.
Specified bonds under Wealth tax provisions: transfer benefit for MTNL bond issues requires transferee to give registered notice within sixty days.
Government specifies two categories of MTNL bonds under clause (xvie) of sub section (1) of section 5 of the Wealth tax Act: 7 year 13% (Taxable) Secured Redeemable Non Convertible Bonds (2nd issue) and 10 year 9% (Tax Free) Secured Redeemable Non Convertible Bonds (2nd issue). The benefit under that clause is admissible on transfer by endorsement or delivery only if the transferee informs the company by registered post within sixty days of such transfer.
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