Section(s) Referred: 193 ,1931 ,1931(iia)
Statute: INCOME TAX
Date of Issue: 14/2/1988
In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the ” 11 per cent. Industrial Finance Corporation Bonds, 2002 (48th Series)” issued by the Industrial Finance Corporation of India, New Delhi, for the purpose of the said clause
Provided that the benefit under the said proviso shall be admissible in case of transfer of such bonds by endorsement or delivery, only if the transferee informs the Industrial Finance Corporation of India or the Reserve Bank of India (managers incharge for the issue and management of IFCI bonds) by registered post within a period of sixty days of such transfer.
[No. 7771/F.No. 275/17/88-IT (B)