Specifies "10-year-9% (tax-free) Secured Redeemable Non-Convertible REC Bonds", issued by the Rural Electrification Corporation Limited, - 073(E) - Wealth Tax

Specifies "10-year-9% (tax-free) Secured Redeemable Non-Convertible REC Bonds", issued by the Rural Electrification Corporation Limited, Notification Number: 0073(E) Dated 12-01-1989 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 "10-year-9% (tax-free) Secured Redeemable Non-Convertible REC Bonds", issued by the Rural Electrification Corporation Limited, for the purpose of the said clause: Provided that the benefit under the said clause shall be admissible in the case of transfer of such bonds, 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: 328/112/88-WT