Section(s) Referred: 80L ,80L(1) ,80L(1)(ii)
Statute: INCOME TAX
Date of Issue: 27/11/1992
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 the 7-year 17 percent. (taxable) Secured Redeemable PFC Bonds (First Series), issued by the Power Finance 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 be effective from the assessment year 1992-93 and subsequent assessment years.
[No. 9139/F. No. 328A/8/92-WT