Tax-free bond specification enables wealth-tax benefit on specified secured redeemable PFC bonds, subject to transferee notice within a limited period. Central Government specifies a series of secured, redeemable, non-convertible bonds issued by a public financial corporation as eligible for a wealth-tax benefit; the tax characterization applies to that specified private placement series, and any transferee must notify the issuer by registered post within a limited period after transfer for the benefit to be admissible.
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-free bond specification enables wealth-tax benefit on specified secured redeemable PFC bonds, subject to transferee notice within a limited period.
Central Government specifies a series of secured, redeemable, non-convertible bonds issued by a public financial corporation as eligible for a wealth-tax benefit; the tax characterization applies to that specified private placement series, and any transferee must notify the issuer by registered post within a limited period after transfer for the benefit to be admissible.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
