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.

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..... v ) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby authorises the 1 [ Rural Electrification Corporation Limited ] (hereinafter referred to as the entity), to issue, through a public issue, during the financial year 2011-12, tax free, secured, redeemable, non-convertible bonds of rupees 1,000 each, aggregating to rupees three thousand cror .....

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..... ate and High Networth Individuals (HNIs): Provided further that higher rate of interest shall not be available in case the bonds are transferred, except in case of transfer to legal heir in the event of death of the original investor: ( d ) Commission on sale.- ( i ) the commission on sale shall be capped at a maximum of a flat fee of 1.25% of the issue size; ( ii ) The flat fee shall in .....

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..... 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)] ******** Notes 1. Substituted vide Notification .....

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