Specified bonds tax benefit: transfer qualifies only if transferee notifies issuer within prescribed notice period. Central Government specifies two categories of Nuclear Power Corporation bonds as eligible under clause (xvie) of section 5(1) of the Wealth-tax Act, 1957: 10-year 9% (tax-free) Secured Redeemable Non-Convertible Bonds (Private Placement) and 7-year 13% (taxable) Secured Redeemable Non-Convertible Bonds (Private Placement). The notification makes the benefit conditional on transferees informing the Corporation by registered post within sixty days of any transfer by endorsement or delivery.
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 bonds tax benefit: transfer qualifies only if transferee notifies issuer within prescribed notice period.
Central Government specifies two categories of Nuclear Power Corporation bonds as eligible under clause (xvie) of section 5(1) of the Wealth-tax Act, 1957: 10-year 9% (tax-free) Secured Redeemable Non-Convertible Bonds (Private Placement) and 7-year 13% (taxable) Secured Redeemable Non-Convertible Bonds (Private Placement). The notification makes the benefit conditional on transferees informing the Corporation by registered post within sixty days of any transfer by endorsement or delivery.
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