Section(s) Referred: 193 ,1931 ,1931(iia)
Statute: INCOME TAX
Date of Issue: 1/6/1989
In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “11.5 per cent. Industrial Finance Corporation Bonds, 2009 (Fifty-second Series)”, issued by the Industrial Finance Corporation of India, New Delhi, for the purposes of the said clause :
Provided that the benefit under the said proviso shall be admissible in the case of transfer of such bonds, by endorsement or delivery, only if the transferee informs the Industrial Finance Corporation of India or the Reserve Bank of India (Managers incharge for the issue and management of IFCI bonds) by registered post within a period of sixty days of such transfer.
[No. 8385/F. No. 275/59/89-IT(B)