MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 52/2010 [F.No.164/1/2010-ITA-I], dated 14-7-2010
In exercise of the power conferred by sub-clause (vii) of clause (15) of section 10 of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby specifies the second tranche bond with the following particulars for the purpose of the said sub-clause, namely: –
| (a) | Name of the bond | – | Tax Free Pooled Finance Development Bonds under Pooled Finance Development Fund Scheme of Government of India (Second Tranche) |
| (b) | Issuing Authority | – | Water and Sanitation Pooled Fund, Tamil Nadu designated as State Pooled Finance Entity for the State of Tamil Nadu. |
| (c) | Purpose | – | To part fund the projects implemented by seven Urban Local Bodies under Water Supply Scheme and Under Ground Sewerage Scheme of Tamil Nadu. |
| (d) | Tenure of the bond | – | Ten years with five years principal moratorium. |
| (e) | Total issue size | – | Eighty three crores nineteen lakhs only. |
| (f) | Interest | – | Not exceeding eight per cent per annum. |
2. The said Bonds are specified subject to :-
(i) the conditions laid down in the Guidelines for the Pooled Finance Development Scheme notified vide Resolution No.K – 14011/40/01 – UD.II(Vol.III) dated 25th October, 2006 of the Ministry of Urban. Development and the Guidelines for issue of tax-free Pooled Finance Development Bonds circulated vide OM F.No.K – 14011/40/01-UD II(Vol.IV) dated 7-6-2007 of the Ministry of Urban Development, and
(ii) the condition that they are issued within a period of twelve months from the date of publication of this notification in the Official Gazette.
[F. No.164/1/2010-ITA-I]
PADAM SINGH,Under Secy. (ITA. I)
