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of <h1>Central Government Announces Tax-Free Benefits for 10-Year 9% PFC Bonds-III Series Under Wealth-tax Act Section 5(1)(xvie)</h1> The Central Government specifies the '10-year 9% (tax-free) Secured Redeemable Non-Convertible PFC Bonds-III Series' issued by Power Finance Corporation Limited under clause (xvie) of sub-section (1) of section 5 of the Wealth-tax Act, 1957. This notification, numbered 0547(E) and dated 13-07-1989, outlines that the tax benefits are applicable upon the transfer of these bonds, provided the transferee informs the Corporation by registered post within sixty days of the transfer. Nutan Sharma, Under Secretary to the Government of India, issued this notification under File Number 328/56/89-WT.
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