Notification No. 07/2010 [F.No.178/126/2009-ITA.I], dated 3-2-2010
In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby authorizes Indian Railway Finance Corporation (IRFC) to issue, during Financial Year 2009-10, tax free secured, redeemable, non-convertible Railway Bonds of Rs. 1,000 each in case of public issue and Rs. 1,00,000 each in other cases, aggregating to an amount of five thousand crore rupees only, carrying an interest rate in the range of 6.50% to 7.25% per annum, depending upon the size and tenor of a tranche:
Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his or her name and the holding with the said Corporation.
Is interest received in financial year 2023-24 from HUDCO TAX FREE BOND which is exempted for income tax under section 10(15)(iv)(h) in old tax resumes will also be exempted under New tax resumes OF assessment year 2024-25
Please provide total list of such bonds issued by such authorized undertakings till date with full details of date of issuance; rate of interest; date of interest payment; date of redemption and also advise, in cases where such bonds are purchased from the recognized stock exchanges on payment of STT and its effect on rate of interest on such buyer being second holder of the bonds
Team
Do we get tax benefit on investment and returns also
If yes upto what limit and percentage of benefit
Please reply back
Ravindra N Thorat
9739673109
Please let me know the maximum rebate limit u/s 10(15)(iv)(h) of income tax act 1961