Section(s) Referred: 80L ,80L(1) ,80L(1)(ii)
Statute: INCOME TAX
Date of Issue: 26/12/1994
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 specifies 14 per cent. (Taxable) payable half-yearly, HUDCO Bonds (Series III) bearing distinctive numbers from 90152501 to 91657500 and from 92567501 to 93017500 at the rate of Rs. 1,000 each aggregating to Rs. 195.50 lakhs (Rupees one hundred ninety-five crores and fifty lakhs only) issued by the Housing and Urban Development Corporation Limited for the purpose of the said clause.
[Notification No. 9672/F.No. 178/92/93-ITA-I