Tax-free bonds under income-tax notification provide exemption for long-term redeemable bonds with put/call options; registration required. The notification specifies cumulative tax-free bonds redeemable after fifteen years with put/call options exercisable at the end of years seven through fourteen, carrying a stated annual interest, issued in specified distinctive numbers and aggregate amount; the tax-exemption is admissible only if the holder registers his or its name and the holding with the issuing company.
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.
Tax-free bonds under income-tax notification provide exemption for long-term redeemable bonds with put/call options; registration required.
The notification specifies cumulative tax-free bonds redeemable after fifteen years with put/call options exercisable at the end of years seven through fourteen, carrying a stated annual interest, issued in specified distinctive numbers and aggregate amount; the tax-exemption is admissible only if the holder registers his or its name and the holding with the issuing company.
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