Specified bonds under the wealth-tax framework - transfer benefit contingent on transferee giving registered notice promptly after transfer. The Central Government specifies two categories of Housing and Urban Development Corporation public sector shelter bonds for clause (xvie) of section 5(1) of the Wealth Tax Act: 10-year 9% tax-free Public Sector Shelter Bonds (Series III) and 7-year 13% taxable Public Sector Shelter Bonds (Series III). The tax benefit on transfer by endorsement or delivery is admissible only if the transferee informs the issuing corporation by registered post within sixty days of the transfer.
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 under the wealth-tax framework - transfer benefit contingent on transferee giving registered notice promptly after transfer.
The Central Government specifies two categories of Housing and Urban Development Corporation public sector shelter bonds for clause (xvie) of section 5(1) of the Wealth Tax Act: 10-year 9% tax-free Public Sector Shelter Bonds (Series III) and 7-year 13% taxable Public Sector Shelter Bonds (Series III). The tax benefit on transfer by endorsement or delivery is admissible only if the transferee informs the issuing corporation by registered post within sixty days of the transfer.
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