Notification: 23 Date of Issue: 22/3/2013

Section 10(15), Item (h) of Sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on Bonds/debentures - Specified Companies Authorized to Issue Tax-free, Secured, Redeemable, Non-convertible Bonds During F.y. 2012-13 - Amendment in Notification No. SO 2685(E), Dated 6-11-2012

What this is

Notification: 23 Date of Issue: 22/3/2013 was published on 22 March 2013. Its subject is Section 10(15), Item (h) of Sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on Bonds/debentures - Specified Companies Authorized to Issue Tax-free, Secured, Redeemable, Non-convertible Bonds During F.y. 2012-13 - Amendment in Notification No. SO 2685(E), Dated 6-11-2012.

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

Acting under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961, the Central Government further amends S.O. 2685(E) dated 6 November 2012, the notification authorising specified companies to issue tax-free, secured, redeemable, non-convertible bonds during financial year 2012-13. In that notification, in paragraph (g), condition (v) is omitted. Nothing else in the parent notification is disturbed.

Who it reaches

companies authorised by S.O. 2685(E) to issue tax-free bonds in financial year 2012-13
subscribers to those bonds claiming exemption of interest under section 10(15)(iv)(h)
merchant bankers and issue managers drafting the offer terms

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.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 - SPECIFIED COMPANIES AUTHORIZED TO ISSUE TAX-FREE, SECURED, REDEEMABLE, NON-CONVERTIBLE BONDS DURING F.Y. 2012-13 - AMENDMENT IN NOTIFICATION NO. SO 2685(E), DATED 6-11-2012
NOTIFICATION NO. 23/2013 [F. NO. 178/60/2012-ITA-l] SO 823(E), DATED 22-3-2013
In exercise of the powers conferred by item (h) of sub clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes following further amendment to the notification of the Government of India, in the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes vide number S.O. 2685(E), dated the 6th November 2012, with effect from its date of publication in the Official Gazette, namely:-
2. In the said notification, in paragraph (g), the condition (v) shall be omitted.

From when

the date of publication in the Official Gazette.

What to watch

The amendment takes effect from the date of its publication in the Official Gazette, and not from the date of the parent notification.
It works by omission: the condition at (v) in paragraph (g) simply ceases to apply, and the remaining conditions in paragraph (g) stand.
The parent notification governs only issues during financial year 2012-13, so the relaxation matters for issues still open in that year.

Where you meet it

In the terms of a tax-free bond issue of 2012-13 and in a bondholder's claim that the interest is exempt under section 10(15)(iv)(h).

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. 116/2026 [F. No.195/13/2025-ITA-I] / SO 4706(E) : Notification in the case of Maharashtra Electricity Regulatory Commission — [भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 25 August 2026
Notification No. 112/2026 [F. No. 300196/6/2026-ITA-I] / SO 4458(E) : Notification in the case of District Legal Service Authority, Panchkula — Ministry of Finance 11 August 2026
Notification No. 109/2026 [F. No. 300196/39/2025-ITA-I] / SO 4321(E) : Notification section 536 (1) of the Income Tax Act, 2025 (30 of 2025) in the case of Odisha Joint Entrance Examination Committee — [भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 4 August 2026
Notification No. 107/2026 [F. No. 300196/65/2018-ITA-I] / SO 4319(E) : Notification section 536 (1) of the Income Tax Act, 2025 (30 of 2025) in the case of Noida Special Economic Zone Authority — [भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 4 August 2026
Notification No. 106/2026 [F. No. 300196/65/2018-ITA-I] / SO 4318(E) : Notification section 536 (1) of the Income Tax Act, 2025 (30 of 2025) in the case of Noida Special Economic Zone Authority — [भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 4 August 2026
Notification No. 104/2026 [F.No.300196/1/2026-ITA-I] / SO 4308(E) : Notification section 536 (1) of the Income Tax Act, 2025 (30 of 2025) in the case of District Legal Service Authority, Charkhi Dadri — Ministry of Finance 3 August 2026

← Notification: 24 Date of Issue: 28/3/2013 · Notification: 22 Date of Issue: 22/3/2013 →

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.