The CG hereby specifies tax free bonds (Series XVIII) Secured Redeemable, Non-cumulative Tax-free bonds redeemable after 10 years with a put/call option at the end of 5th, 6th, 7th, 8th, and 9th year, carrying an interest of 8.20% per annum - 038/2003 - Income Tax

The CG hereby specifies tax free bonds (Series XVIII) Secured Redeemable, Non-cumulative Tax-free bonds redeemable after 10 years with a put/call option at the end of 5th, 6th, 7th, 8th, and 9th year, carrying an interest of 8.20% per annum Notification No. 38 of 2003, dt. 25th Feb., 2003 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 (Series XVIII) Secured Redeemable, Non-cumulative Tax-free bonds redeemable after 10 years with a put/call option at the end of 5th, 6th, 7th, 8th, and 9th year, carrying an interest of 8.20% per annum of rupees one lakh each for a total amount of rupees seventy crores bearing distinctive numbers from 18000001 to 18007000 issued by the Nuclear Power Corporation of India Limited, during the Financial year 2001-2002 for the purpose of the said item : Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his/its name and the holding with the said company. [F. No. 178/11/2002-ITA-I]