Central Government specifies 7-years 8.75% per annum (Tax-free) Rural Electrification Corporation Bonds u/s 10(15)(iv)(h) - S. O. 151(E) - Income Tax

Central Government specifies 7-years 8.75% per annum (Tax-free) Rural Electrification Corporation Bonds u/s 10(15)(iv)(h) NOTIFICATION NO. S. O. 151 ( E ) DATED 9-3-1999 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 7-years 8.75% per annum (Tax-free) Rural Electrification Corporation Bonds-2004 (XXXIII Series) bearing distinctive numbers : ( i ) from 500001 to 500550 of Rs. 1,00,000 each for an amount of Rs. 5,50,00,000 (rupees five crores fifty lakhs only) ; and ( ii ) from 600001 to 600389 of Rs. 50,00,000 each for an amount of Rs. 194,50,00,000 (rupees one hundred ninety four crores and fifty lakhs only): Aggregating to an amount of rupees two hundred crores only issued by Rural Electrification Corporation Limited for the purposes 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. [Notification No. 10823/F. No. 178/4/98-ITA-I]