Exemption from wealth-tax: HUDCO bonds specified as exempt; transfer benefit requires notice to issuer within prescribed period. The Central Government specifies two categories of secured, redeemable, non-convertible HUDCO Shelter Bonds as eligible for wealth-tax exemption under clause (xvie) of section 5(1) of the Wealth-tax Act, 1957. The exemption upon transfer by endorsement or delivery is conditional: the transferee must inform the issuing corporation by registered post within sixty days of the 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.
Exemption from wealth-tax: HUDCO bonds specified as exempt; transfer benefit requires notice to issuer within prescribed period.
The Central Government specifies two categories of secured, redeemable, non-convertible HUDCO Shelter Bonds as eligible for wealth-tax exemption under clause (xvie) of section 5(1) of the Wealth-tax Act, 1957. The exemption upon transfer by endorsement or delivery is conditional: the transferee must inform the issuing corporation by registered post within sixty days of the transfer for the benefit to be admissible.
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