Tax exemption for railway bonds specified; benefit conditioned on holder registration with issuer to secure entitlement. The Central Government specifies 8.77% tax free (10B Series) Konkan Railway Bonds issued by Konkan Railway Corporation Limited (distinctive numbers 1-7000 and specified issued amount) as qualifying securities for the exemption under the Income-tax Act. The exemption is conditional: the bondholder must register his or her name and holding with the Corporation for the benefit to be admissible.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption for railway bonds specified; benefit conditioned on holder registration with issuer to secure entitlement.
The Central Government specifies 8.77% tax free (10B Series) Konkan Railway Bonds issued by Konkan Railway Corporation Limited (distinctive numbers 1-7000 and specified issued amount) as qualifying securities for the exemption under the Income-tax Act. The exemption is conditional: the bondholder must register his or her name and holding with the Corporation for the benefit to be admissible.
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