10973 : Notification: 10973 Date of Issue: 28/6/1999

Notification: 10973 Date of Issue: 28/6/1999

Notification: 10973

Section(s) Referred: s. 10(15)(iv)

Statute: INCOME TAX

Date of Issue: 28/6/1999

In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies---

(a) the 7 years 8.70% (tax-free) Bonds carrying 8.70% interest per annum payable half-yearly (XXXVI Series) (Tranche-I) bearing distinctive numbers from 700001 to 700200 of rupees fifty lakhs each, of the aggregate value of rupee one hundred crores only.

(b) the 7 years 8% (tax-free) Bonds carrying 8% interest per annum payable half yearly (XXXVI Series) (Tranche-II) bearing distinctive numbers from 700201 to 700270 of rupees fifty lakhs each, of the aggregate value of rupees thirty-five crores only, and

(c) the 7 years 8.90% (tax-free) Bonds carrying 8.90% interest per annum payable half-yearly, (XXXVI Series) (Tranche-III) bearing distinctive numbers from 700271 to 700450 of rupees fifty lakh each, of the aggregate value of rupees ninety crores only.

issued by the Rural Electrification Corporation Limited, New Delhi for the purpose of the said item :

Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his/her name and the holding with the said corporation.

[F.No. 178/18/99-ITA-I]