Specification of debentures /bonds of public sector companies for exemption from wealth-tax - 0261(E) - Wealth Tax

Specification of debentures /bonds of public sector companies for exemption from wealth-tax Notification Number: 0261(E) Dated 04/04/1989 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 the said clause, namely:- (i) "10 year-9% (tax-free) Secured Redeemable Non-Convertible HUDCO Shelter Bonds (Series-II)", issued by the Housing and Urban Development Corporation Limited; (ii) "7 year-13% (taxable) Secured Redeemable Non-Convertible HUDCO Shelter Bonds (Series-II)", issued by the Housing and Urban Development Corporation Limited: Provided that the benefit under the said clause shall be admissible in the case of transfer of such debentures by endorsement or delivery, only if the transferee informs the said Corporation by registered post within a period of sixty days of such transfer. ( Sd. ) Nutan Sharma, Under Secretary to the Government of India . File Number: 328/20/89-WT