Notification No. 2990

Debentures or bonds specified under section 193

What this is

Notification No. 2990 was published on 28 August 1988. Its subject is Debentures or bonds specified under section 193.

This notifies a named person, body, fund or instrument for the purpose of a provision. Nothing in it changes the provision itself.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.193	s.393

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the debentures or bonds, as the case may be, issued by the Industrial Credit and Investment Corporation of India Limited, Bombay, as listed in the Table hereto annexed, for the purpose of the said clause :

Provided that the benefit under the said proviso shall be admissible in the case of transfer of such debentures or bonds, by endorsement or delivery, only if the transferee informs the Industrial Credit and Investment Corporation of India Limited by registered post within a period of sixty days.

TABLE

------ Month of issue Description of debentures or bonds ------ (1) (2) ------ 1. August, 1975 6.25% Debentures (1990) 2. May, 1976 6.25% Debentures (1991) 3. September, 1976 6.25% Debentures (1992) 4. May, 1977 6.25% Debentures (1993) 5. January, 1978 6.50% Debentures (1998) 6. June, 1978 6.50% Debentures (1998

7. January, 1979 6.50% Bonds (1999) 8. August, 1979 6.75% Bonds (1999) 9. January, 1980 6.75% Bonds (2000) 10. June, 1980 7.25% Bonds (2000) 11. January, 1981 7.25% Bonds (2001) 12. March, 1981 7.25% Bonds (2001) 13. June, 1981 7.50% Bonds (2001) 14. November, 1981 7.50% Bonds (2001) 15. March, 1982 7.50% Bonds (2002) 16. June, 1982 7.75% Bonds (2002) 17. February, 1983 7.50% Bonds (1998) 18. July, 1983 8.75% Bonds (2000) 19. January, 1984 8.75% Bonds (2001) 20. July, 1984 9.00% Bonds (1999) 21. January, 1985 9.00% Bonds (2000) 22. June, 1985 9.75% Bonds (1998) 23. November, 1985 9.75% Bonds (1998) 24. June, 1986 11.00% Bonds (2001) 25. September, 1986 11.00% Bonds (2001) 26. February, 1987 11.00% Bonds (2002) 27. June, 1987 11.00% Bonds (2002) 28. October, 1987 11.00% Bonds (2002) 29. June, 1988 11.00% Bonds (2003) ------

[No. 8088/F. No. 275/99/88-IT(B)

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 75/2020 [F. No. 370142/8/2020-TPL] / GSR 574(E) — Ministry of Finance 22 September 2020
Notification No. Notification No. 27/2018 [F. No. 275/27/2017-IT(B)] / SO 2938(E) — The Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 18 June 2018
Notification No. 28/2018 [F. No. 275/27/2017-IT(B)] / SO 2939(E) — Indian Railway Finance Corporation Limited 54EC Capital Gains Bond" issued by Indian Railway Finance Corporation Limited 18 June 2018
Notification 59/2017 [F. No. 370 142/8/2017-TPL] / GSR 826(E) — Ministry of Finance 4 July 2017
Notification No. 05 — IDBI Flexibonds 2004-2005" issued by Industrial Development Bank of India Limited specified under section 193 17 January 2005
Circular No. 4/2004 — Tax Deduction at Source on income from Deep Discount Bonds 13 May 2004

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.