Notifications under section 5(1)(xvie): Specification of public sector bonds - 0119(E) - Wealth Tax

Notifications under section 5(1)(xvie): Specification of public sector bonds Notification Number: 0119(E) Dated 19-01-1988 In exercise of the powers conferred by clause (xvie) of sub-section (1) of section 5 of the Wealth-tax Act, 1957 (27 of 1957), the Central Government hereby specifies the following debentures for the purpose of that clause, namely:- (i) "10-year 9 per cent. (tax free) Secured Redeemable Non-Convertible Bonds" issued by the Power Finance Corporation Limited; (ii) "7-year 13 per cent. Secured Redeemable Non-Convertible Bonds (B-series)" issued by the Indian Telephone Industries Limited, Bangalore. Provided that the benefit under the said clause shall be admissible in the case of transfer of such bonds, by endorsement or delivery, only if the transferee informs the company concerned by registered post within a period of sixty days of such transfer. File Number: 328/118/87-WT