Notification No. 13/2012

Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Notified bonds/debentures of Public Sector Companies - Corrigendum to notification no.7/2012, dated 14-2-2012

What this is

Notification No. 13/2012 was published on 6 March 2012. Its subject is Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Notified bonds/debentures of Public Sector Companies - Corrigendum to notification no.7/2012, dated 14-2-2012.

This grants an exemption or a relief under a provision that allows one. Read the conditions attached: an exemption notification is construed strictly, and a condition missed is the exemption lost.

What it does

This is a corrigendum amending Notification No. 07/2012 dated 14 February 2012, issued under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961, on notified bonds and debentures of public sector companies. It substitutes the phrase "Rural Electrification Corporation" in paragraph 1 with "Rural Electrification Corporation Limited". It also substitutes the Explanation to that notification with a new Explanation, which provides that "Qualified Institutional Buyers" carries the meaning assigned in the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, and that an individual investor investing up to rupees five lakh is a retail investor while one investing more than rupees five lakh is a High Networth Individual.

Who it reaches

Rural Electrification Corporation Limited as issuer
individual investors in the notified bonds, split at the rupees five lakh line
qualified institutional buyers subscribing to such issues
merchant bankers allocating the issue across investor categories

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.3	s.3
s.10	s.11, s.19

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.

Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Notified bonds/debentures of Public Sector Companies - Corrigendum to notification no.7/2012, dated 14-2-2012
Notification No. 13/2012 [F.No.178/56/2011-(ITA.I)], dated 6-3-2012
The Central Government hereby makes following amendment to the notification of the Government of India, Ministry of Finance (Department of Revenue), published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), vide Notification number 07/2012, F. No. 178/56/201-(ITA.1) dated the 14th February, 2012, namely, in the said notification:-
(a) The phrase "Rural Electrification Corporation" in para 1, shall be substituted with "Rural Electrification Corporation Limited."
(b) The Explanation to the aforesaid notification shall stand substituted by the following Explanation :-
"(i) Qualified Institutional Buyers shall have the same meaning as assigned to it in the SEBI (Issue and listing of Debt Securities) Regulations, 2008.
(ii) Any individual investor investing upto rupees five lakh shall be treated as retail investor and any individual investor investing more than rupee five lakh shall be treated as High Networth Individual."
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What to watch

The corrigendum corrects the issuer's name to Rural Electrification Corporation Limited.
The old Explanation stands wholly substituted, not merely added to.
The retail investor threshold is investment up to rupees five lakh; above that the investor is a High Networth Individual.
The meaning of Qualified Institutional Buyer is borrowed from the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, so a change in those regulations changes the category here.

Where you meet it

In the issue documents and allotment categories for such tax-free bonds, and in a claim that interest on them is exempt under section 10(15)(iv)(h) in the return of income.

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. 94/2026 [F. No. 370142/24/2026-TPL] / G.S.R. 646(E) : Income-tax (Second Amendment) Rules, 2026 : Amendment of rule 157 of the Income tax Rules, 2026 to align the definition of the specified fund with rule 114AAB of the Income tax Rules, 1962 — Ministry of Finance 21 July 2026
Notification No. 64 — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 7 16 April 2026
Notification No. 63/2026 [F. No. 370142/13/2026-TPL]/ GSR 268(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026
Notification No. 62/2026 [F. No. 370142/10/2026-TPL]/ GSR 267(E) — Ministry of Finance 10 April 2026
Notification No. 61/2026 [F. No. 370142/9/2026-TPL] / GSR 266(E) — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3 10 April 2026
Notification No. 60/2026 [F. No. 370142/8/2026-TPL]/ GSR 265(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026

← S.O.406(E) · Notification No. 12/2012 →

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.