Section(s) Referred: 80L ,80L(1) ,80L(1)(ii)
Statute: INCOME TAX
Date of Issue: 28/10/1992
In exercise of the powers conferred by sub-clause (ii) of clause (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 7-year 17 per cent. (Taxable) Secured Redeemable Non-Convertible Bonds-VII Issue, issued by the National Thermal Power Corporation Limited, for the purpose of the said clause.
Provided that the benefit under the said clause shall be admissible in the case of transfer of such bonds, by endorsement or delivery, only if the transferee informs the said Corporation by registered post within a period of sixty days of such transfer.
This notification shall take effect for the assessment year commencing on the 1st day of April, 1992, and subsequent assessment years.
(Sd.) S. K. Gupta, Under Secretary to the Government of India.
[No. 9117/F. No. 328A/9/92-WT