Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Notified bonds/debentures of Public Sector Companies - 13/2012 - Income Tax

Notification No. 13/2012 Dated 6-3-2012 S.O. 390 (E):- The Central Government hereby makes following amendment to the notification of the Government of India, Ministry of Finance (Department of Revenue), published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), vide Notification number 07/2012, F. No. 178/56/201-(ITA.1) dated the 14th February, 2012, namely, in the said notification:- (a) The phrase Rural Electrification Corporation in para 1, shall be substituted with Rural Electrification Corporation Limited. (b) The Explanation to the aforesaid notification shall stand substituted by the following Explanation :- (i) Qualified Institutional Buyers shall have the same meaning as assigned to it in the SEBI (Issue and listing of Debt Securities) Regulations, 2008. (ii) Any individual investor investing upto rupees five lakh shall be treated as retail investor and any individual investor investing more than rupee five lakh shall be treated as High Networth Individual. [F.No.178/56/2011-(ITA.I)]