Notification: 359 Date of Issue : 2/12/2002

REC 54EC Capital Gains Tax Exemption Bonds" issued by the Rural Electrification Corporation Limited specified under section 193

What this is

Notification: 359 Date of Issue : 2/12/2002 was published on 2 December 2002. Its subject is REC 54EC Capital Gains Tax Exemption Bonds" issued by the Rural Electrification Corporation Limited 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.

Notification No : 359

Date of Issue : 2/12/2002

Section(s) Referred : s. 193

Notification No. 359 of 2002, dt. 2nd Dec., 2002

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 "REC 54EC Capital Gains Tax Exemption Bonds" issued by the Rural Electrification Corporation Limited, New Delhi for the purposes of the said clause:

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

F.No.275/94/2002-(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

← Notification: 360 Date of Issue : 3/12/2002 · Notification: 357 Date of Issue : 29/11/2002 →

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.