Designation of tax-free bonds: registration required to secure specified wealth-tax treatment for holders. Central government notification designates MTNL 10-year 9 per cent (tax free) Secured Redeemable Non-Convertible Telephone Bonds, 1989 (3rd Issue) as specified for clause (xvie) of section 5(1) of the Wealth-tax Act, with eligibility for the benefit conditioned on the holder registering his name and holding with the issuing Nigam.
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Designation of tax-free bonds: registration required to secure specified wealth-tax treatment for holders.
Central government notification designates MTNL 10-year 9 per cent (tax free) Secured Redeemable Non-Convertible Telephone Bonds, 1989 (3rd Issue) as specified for clause (xvie) of section 5(1) of the Wealth-tax Act, with eligibility for the benefit conditioned on the holder registering his name and holding with the issuing Nigam.
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