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Notification: S.O.744
Section(s) Referred: 193 ,1931 ,1931(iiia)
Statute: INCOME TAX
Date of Issue: 5/3/1987
In exercise of the powers conferred by clause (iiia) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. S.O. 5651, dated the 4th December, 1985, the Central Government hereby specifies all the securities of the Central Government and the State Government, the interest on which is payable to the following nationalised banks, that is to say, corresponding new banks as defind in section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), and the Banking Companies (Acquisition and transfer of Undertakings) Act, 1980 (40 of 1980), whose ratio of published profits to working funds is less point one per cent., namely :–
1. UCO Bank
2. United Bank of India
3. Dena Bank
4. New Bank of India
5. Punjab Sind Bank
6. Vijaya Bank
7. Punjab National Bank,
for the purposes of the said clause.
[No. 7159/F. No. 275/132/86-IT (B)
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