Notification No. : 98
Date of Issue : 23/4/2002
Section(s) Referred : s. 80L(1)(ii)
Notification No. S.O. 459(E), dated 23rd April, 2002.
In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies REC Infrastructure Bonds in the nature of debentures bearing distinctive numbers from Serial No. 0000001 to 2000000, of Rs.5,000 each carrying an interest at the rate of 9% per annum, amounting to Rs. 1,000 crores only (Rs. 500 crores with an option to retain oversubscription of an additional amount of Rs. 500 crores only) to be raised in one or more branches, through public or private placement, issued by the Rural Electrification Corporation Limited, New Delhi, for the purpose of the said clause.
Notification No. 98/2002/F.No. 178/61/2001-ITA.I]
