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of <h1>Govt. Grants Wealth Tax Benefits to NTPC's 10-Year 9% Tax-Free Bonds; Notification Required for Transfers</h1> The Central Government, under the Wealth-tax Act, 1957, specifies the '10-year-9% (tax-free) Secured Redeemable Non-Convertible NTPC Bonds-IV Issue (Private Placement)' issued by the National Thermal Power Corporation Limited. These bonds are designated for wealth tax benefits under clause (xvie) of sub-section (1) of section 5. The tax benefit applies to bond transfers only if the transferee notifies the Corporation by registered post within sixty days of the transfer. This notification is documented under Notification Number 1202(E), dated 27/12/1988, and signed by the Under Secretary to the Government of India.
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