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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Indian Railway Bonds Eligible for Wealth-Tax Exemption: Notify Transfer Within 60 Days for Tax Benefits</h1> The notification specifies the '10 year-9% (tax-free) Secured Redeemable Non-Convertible Railway Bonds-III Series' issued by the Indian Railway Finance Corporation as eligible under clause (xvie) of sub-section (1) of section 5 of the Wealth-tax Act, 1957. The Central Government stipulates that the tax benefits are applicable only if the transferee notifies the corporation by registered post within sixty days of transferring the bonds. This notification, dated April 17, 1989, is issued by the Under Secretary to the Government of India.
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