Section(s) Referred: s. 10(15)(iv)
Statute: INCOME TAX
Date of Issue: 8/7/1999
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 specifies tax-free (2008-Ist Series) non-convertible, unsecured and redeemable bonds of rupees one lakhs each carrying an interest of 10.40% per annum payable half-yearly for a period of ten years for an amount of rupees one hundred-fifty crores and fifty lakhs only bearing distinctive numbers from 00000001 to 00015050 issued by Power Finance Corporation Limited for the purpose of the said item :
Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his/her name and the holding with the said Corporation.
[F. No. 178/110/98-ITA]