Specified tax-free bonds: transfer benefit conditional on transferee notifying issuer by registered post within prescribed period. The Central Government specifies 10 year 9% tax free Secured Redeemable Non Convertible REC Bonds (19th Series) (Private Placement) as qualifying for clause (xvie) of s.5(1) of the Wealth tax Act, 1957. The wealth tax benefit on transfer by endorsement or delivery is admissible to the transferee only if the transferee notifies 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.
Specified tax-free bonds: transfer benefit conditional on transferee notifying issuer by registered post within prescribed period.
The Central Government specifies 10 year 9% tax free Secured Redeemable Non Convertible REC Bonds (19th Series) (Private Placement) as qualifying for clause (xvie) of s.5(1) of the Wealth tax Act, 1957. The wealth tax benefit on transfer by endorsement or delivery is admissible to the transferee only if the transferee notifies the issuing Corporation by registered post within sixty days of the transfer.
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 
