Specified bonds tax treatment requires transferee to notify issuer promptly to preserve wealth-tax benefit on transfer. Specification designates two categories of secured redeemable non-convertible bonds issued by the housing finance corporation as eligible for the benefit of clause (xvie) of section 5(1) for wealth-tax purposes: 10-year tax-free bonds and 7-year taxable bonds. The wealth-tax benefit on transfer by endorsement or delivery is conditional on the transferee informing the issuer 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 tax treatment requires transferee to notify issuer promptly to preserve wealth-tax benefit on transfer.
Specification designates two categories of secured redeemable non-convertible bonds issued by the housing finance corporation as eligible for the benefit of clause (xvie) of section 5(1) for wealth-tax purposes: 10-year tax-free bonds and 7-year taxable bonds. The wealth-tax benefit on transfer by endorsement or delivery is conditional on the transferee informing the issuer by registered post within sixty days of such transfer.
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