Central Government specifies 7-year 9.25 per cent. per annum (Tax-free) Rural Electrification Corporation Bonds u/s 10(15)(iv)(h) - S.O. 67(E) - Income Tax

Central Government specifies 7-year 9.25 per cent. per annum (Tax-free) Rural Electrification Corporation Bonds u/s 10(15)(iv)(h) NOTIFICATION NO. S.O. 67 ( E ) DATED 20-1-1998 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 7-year 9.25 per cent. per annum (Tax-free) Rural Electrification Corporation Bonds---2004 (XXXII Series) bearing distinctive numbers: ( i ) from 400001 to 400150 of Rs. 1,00,000 each for an amount of Rs. 1,50,00,000 (Rupees one crore fifty lakhs only); and ( ii ) from 500001 to 500297 of Rs. 50,00,000 each for an amount of Rs. 1,48,50,00,000 (Rupees one hundred and forty-eight crores and fifty lakhs only), aggregating to an amount of rupees one hundred fifty crores only issued by the Rural Electrification Corporation Limited, 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. 178/36/97-ITA-I]