CBDT has vide notification No. 19/2014 dated 26.03.2014 reduced the limit for issue of tax free bonds by Indian Railway Finance Corporation Limited (IRFC) to Rs, 8853 crore from earlier limit of Rs. 10,000 crore. The Notification Further Authorised IFCI Limited (formerly known as Industrial Finance Corporation of India) to issue tax free bonds up to Rs 430 crores.

Notification No. 19/2014, Dated 26-3-2014

S.O.899(E)._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 makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), vide number S.O. 2424(E), dated the 8th of August, 2013, namely:—

In the said notification, in the Table,—

(a)          for serial number 10 and entries relating thereto, the following serial number and entries shall be substituted, namely:—

(1)

(2)

(3)

“10.

Indian Railway Finance Corporation Limited (IRFC)

8853″;

(b)          after serial number 13, the following serial number and entries shall be inserted, namely:-

(1)

(2)

(3)

“14.

IFCI Limited (formerly known as Industrial Finance Corporation of India)

430″.

[Notification No. 19/2014/F.NO.178/9/2014-(ITA-I)]

SURABHI SHARMA, Under Secy.

Note: The principal notification was published in the Gazette of India Extraordinery ,part II,section  3,sub-section(ii), vide number S.O. 2424(E) dated the 8th of August ,2013 and subsequently vide S.O. number 399(E), dated the 13th february , 2014

More Under Income Tax

Posted Under

Category : Income Tax (27860)
Type : Notifications (15900) Notifications/Circulars (32168)

Leave a Reply

Your email address will not be published. Required fields are marked *