Notification No. 293 — NABARD Rural Bonds of National Bank…

What this is

Notification No. 293 was published on 31 December 2007. Its subject is NABARD Rural Bonds of National Bank for Agriculture and Rural Development (NABARD) for an amount of rupees five thousand crore for specified under section 80C.

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.80C	s.2, s.123

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. 293/2007, DATED 31-12-2007

In exercise of the powers conferred by clause (xxii) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the NABARD Rural Bonds of National Bank for Agriculture and Rural Development (NABARD) for an amount of rupees five thousand crore for the purposes of the said clause.

2. The notification shall come into effect from the 1st day of April, 2008.

[F.No.142/31/2007-TPL]

EXPLANATORY MEMORANDUM
The Finance Act, 2007 inserted clause (xxii) in sub-section (2) of Section 80C of the Income-tax Act to provide that deposits made in such bonds issued by the National Bank for Agriculture and Rural Development, as the Central Government may, by notification in the official gazette, specify in this behalf, shall be eligible for deduction under the said section.

Accordingly, the NABARD Rural Bonds of National Bank for Agriculture and Rural Development (NABARD) have been notified. The notification will take effect from the 1st April, 2008 and will, accordingly, apply in relation to the assessment year 2008-2009 and subsequent years.

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. 134/2021 [F. No. 178/4/2021-ITA-I] / SO 5056(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 6 December 2021
Notification No. 45/2020 [F. No.370142/26/2019-TPL] / SO 2232(E) — Ministry of Finance 7 July 2020
Notification No.91/2015 [F.No.178/21/2014-ITA.I] / SO 3313(E) — jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99 8 December 2015
Circular No. 19/2015 — Circular No.- 19 /2015 27 November 2015
Circular 1/2015 — Explanatory notes to the provisions of the finance no.2 act 2014 21 January 2015
Notification No. 9/2015 [F.No.178/3/2015-ITA-I]/SO 210(E) — Section 80C of the Income-tax Act, 1961 - Deductions - in Respect of Insurance Premium, ETC. - Notified Plan under secti 21 January 2015

← Notification No. 01 · Notification No. 292 →

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.