Section 10(15)(iv)(h) of the Income-tax Act, 1961 Exemption Interest on bonds/debentures Notified bonds or debentures of public sector companies - 07/2010 - Income Tax

Section 10(15)(iv)(h) of the Income-tax Act, 1961 Exemption Interest on bonds/debentures Notified bonds or debentures of public sector companies Notification No. 07/2010 Dated: 3rd February 2010 S.O. 241(E).- 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 authorizes Indian Railway Finance Corporation(IRFC) to issue, during Financial Year 2009-10, tax free secured, redeemable, non-convertible Railway Bonds of ₹ 1,000 each in case of public issue and ₹ 1,00,000 each in other cases, aggregating to an amount of five thousand crore rupees only, carrying an interest rate in the range of 1 [ 6% to 7.25% ] per annum, depending upon the size and tenor of a tranche: Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his or her name and the holding with the said Corporation. [F.No.178/126/2009-ITA.I] ********* Notes 1. Corrected vide CORRIGENDUM Dated 22-03-2010 before it was read as 6.50% to 7.25%