Tax treatment for specified corporate bonds conditions transfer benefit on transferee notice to issuer within prescribed period. The Central Government specifies certain secured, redeemable, non-convertible bonds issued by the Nuclear Power Corporation of India Limited as qualifying under clause (xvie) of section 5(1) of the Wealth-tax Act; one category is described as tax-exempt and another as taxable. The notification conditions the availability of the benefit on transfer upon the transferee informing the issuing corporation by registered post within sixty days of the 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 treatment for specified corporate bonds conditions transfer benefit on transferee notice to issuer within prescribed period.
The Central Government specifies certain secured, redeemable, non-convertible bonds issued by the Nuclear Power Corporation of India Limited as qualifying under clause (xvie) of section 5(1) of the Wealth-tax Act; one category is described as tax-exempt and another as taxable. The notification conditions the availability of the benefit on transfer upon the transferee informing the issuing corporation by registered post within sixty days of the transfer.
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