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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Debentures by State Electricity Boards (1974-1976) under Section 80L: Conditions for Interest, Transferability, and Non-Government Guarantee.</h1> The Central Government specifies debentures issued by State Electricity Boards under the Electricity (Supply) Act, 1948, between April 1, 1974, and March 31, 1976, for raising resources in rural areas. These debentures, issued under section 80L of the Income-tax Act, 1961, and section 5 of the Wealth-tax Act, 1957, must meet certain conditions: they are not government-guaranteed, initially issued only to individuals, non-transferable to non-individuals for one year, and carry an interest rate not exceeding 8.5% per annum.
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