Clarification under Section 372A(3) of the Companies Act, 1956.

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..... fication under Section 372A(3) of the Companies Act, 1956. It is observed from the Budget 2013-14 authorizes Union Govt. to raise Rs. 50,000 crores (Tax Free Bonds). These bonds carry a lower rate of interest, currently in the range of 6.75% to 7.50% which is tax free under Section 10(15) (iv)(h) of the income Tax Act,1961. Such bonds were also provided for in Budget 2012-13, but the response ha .....

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