Central Government has specified tax-free bonds of the North Eastern Electric Power Corporation Limited u/s 10 (15)(iv) of the Income-tax Act, 1961 - 088/2002 - Income Tax

Central Government has specified tax-free bonds of the North Eastern Electric Power Corporation Limited u/s 10 (15)(iv) of the Income-tax Act, 1961 Notification No. S.O. 420(E), dated 15th April, 2002 . 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 tax-free bonds of the North Eastern Electric Power Corporation Limited, 1995-96 (Series III) of 1 [ rupees one thousand each ] carrying an interest of 10.50 per cent. per annum for a period of seven years for an amount of rupees two crores and fifty lakhs only bearing distinctive numbers from C-0000001 to C-0025000 issued during 1995-96 by the North Eastern Electric Power Corporation for the purpose of the said section: Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his name and the holding with the said company. [Notification No. 88/2002/F.No. 178/12/2001-ITA-I] ********* Notes 1. Corrected vide NOTIFICATION N0. 171 Dated 15-07-2002 before it was read as rupees one lakh each