Tax-exempt REC bond specification requires transferee to notify issuer by registered post within sixty days to retain benefit. Central Government specifies 10-year-9% (tax-free) Secured Redeemable Non-Convertible REC Bonds, issued by Rural Electrification Corporation Limited, as qualifying instruments under clause (xvie) of sub-section (1) of section 5 of the Wealth-tax Act, 1957. The benefit on transfer by endorsement or delivery is admissible only if the transferee notifies the Corporation 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.
Tax-exempt REC bond specification requires transferee to notify issuer by registered post within sixty days to retain benefit.
Central Government specifies 10-year-9% (tax-free) Secured Redeemable Non-Convertible REC Bonds, issued by Rural Electrification Corporation Limited, as qualifying instruments under clause (xvie) of sub-section (1) of section 5 of the Wealth-tax Act, 1957. The benefit on transfer by endorsement or delivery is admissible only if the transferee notifies the Corporation by registered post within sixty days of such transfer.
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