Investigation of Capital Investment Bonds. - Income Tax - 1615/CBDT

INSTRUCTION NO. 1615/CBDT Dated: May 1, 1985 The Central Government have notified the issue of 7% Capital Investment Bonds from 28th June, 1982, these bonds may be held by an individual in his or her name or on behalf of a minor or jointly with another individual. There is no maximum limit for investment in bonds. 2. The Central Government has issued instructions to Reserve Bank of India to intimate the income-tax authorities the details of individual subscriptions in the aforesaid bonds of Rs.25,000 and above. Field officers are directed to ensure that such investment are duly investigated and appropriate action taken. Information in this regard received from Reserve Bank of India as well as from any other source should be taken into account for the purposes of the scrutiny. 3. This may be brought to the notice of all the officers working in your charge.