Section 10(15)
Tax-free certificates/fixed deposits/capital investment bonds/foreign
loans, etc.
Notified
bonds, certificates, etc.- Notified
for purposes of section 10(15)(i)
|
Sl. No. |
Name of securities, bonds, annuity certificates, etc. |
Maximum amount |
|
(1) |
(2) |
(3) |
|
1. |
12-year
National Savings Annuity Certificates |
Whole of the amount |
|
2. |
National Defence
Gold Bonds, 1980 |
Whole of the amount |
|
3. |
Special
Bearer Bonds, 1991 |
Whole of the amount |
|
4. |
Treasury
Savings Deposit Certificates (10 years) |
Whole of the amount |
|
5. |
Post Office
Cash Certificates (5 years) |
Whole of the amount |
|
6. |
National
Plan Certificates (10 years) |
Whole of the amount |
|
7. |
National
Plan Savings Certificates (12 years) |
Whole of the amount |
|
8. |
Post Office
National Savings Certificates (12 years/7 years) |
Whole of the amount |
|
9. |
Post Office Savings
Bank Accounts |
Whole of the amount |
|
10. |
Public
Account of the nature referred to in item (6) in the Table below rule 4 of
the Post Office Savings Account Rules, 1981 |
Rs. 5,000 |
|
11. |
Post Office
Cumulative Time Deposits Rules, 1981 |
Whole of the amount |
|
12. |
Scheme of
Fixed Deposits governed by the Government Savings Certificates (Fixed
Deposits) Rules, 1968 |
Whole of the amount |
|
13. |
Scheme of
Fixed Deposits governed by the Post Office (Fixed Deposits) Rules, 1968 |
Whole of the amount |
|
14. |
Special
Deposit Scheme, 1981 |
Whole of the amount |
Notification : No. SO 607(E), dated 9-6-1989.
Interest
on NRNR deposits for purposes of section 10(15)(i) - The Central Government
specifies interest on the deposits in the Non-Resident (Non-repatriable) Rupee
Deposit Scheme accruing to non-residents only, for the purposes of section 10(15)(i)
for the assessment year 1993-94 and subsequent assessment years – Notification : No. SO 653(E), dated 31-8-1992.
Resurgent
India Bonds for purposes of section 10(15)(i) - The Central Government specifies the Resurgent
India Bonds, being bank instruments representing foreign currency denominated
deposits in the form of promissory notes, issued by the State Bank of India, a
bank constituted under section 3 of the State Bank of India Act, 1955 (23 of
1955), as deposits for the purposes of section 10(15)(i) - Notification : No. SO 844(E), dated 21-9-1998.
Notified
other bonds for purposes of section 10(15)(i)
Bond/Security |
Notification |
|
|
|
No. |
Date |
|
n 8.5% tax free SLR Power Bonds carrying an
interest of 8.5% per annum, for a period of fifteen years |
27-6-2003 |
|
|
n India
Millennium Deposits |
10-8-2005 |
|
Others
Notified bonds or securities under section 10(15)(i) - In exercise of the powers conferred by
sub-clause (i) of clause (15) of section 10 of the Income-tax
Act, 1961, the Central Government hereby specifies the amount of Rs. 3,110.86
crore to be converted by the Government of Delhi into Long Term Advances to securities
outstanding State Electricity Board’s dues, carrying an interest of 8.5% per
annum, for a period of fifteen years - Notification
: No. 281/2004 [F. No. 178/20/2004-IT(A-I)], dated 18-11-2004.
Notified
certificates for purposes of section 10(15)(ii)1 :—
|
|
Certificates |
Notification |
|
|
|
|
No. |
Date |
|
1. |
10-Year Defence
Deposit Certificates |
SO 3574 |
23-11-1962 |
|
2. |
12-Year National
Defence Certificates |
SO 3574 |
23-11-1962 |
|
3. |
The Government of
India Defence Certificates |
SO 588 |
27-2-1963 |
|
4. |
Premium Prize
Bonds, 1963 |
SO 2953 |
9-10-1963 |
|
5. |
7-Year National
Savings Certificates (II Issue) and 7-Year National Savings Certificates (II Issue)—Bank
Series |
SO 2880 |
1-9-1970 |
|
6. |
7-Year National
Savings Certificates (III Issue) and 7-Year National Savings Certificates
(III Issue)—Bank Series |
SO 2880 |
1-9-1970 |
Notified fixed deposit for purposes of section 10(15)(iia) 1 :
(a) Any scheme of fixed deposits governed by the
Government Savings Certificates (Fixed Deposits) Rules, 1968, and any scheme of
fixed deposits governed by the Post Office (Fixed Deposits) Rules, 1968—Notification : No. SO 2063, dated 4-6-1968 as corrected by SO 2877, dated 1-9-1970.
(b) Special Deposit Scheme, 1981—Notification : No. SO 1518, dated 22-2-1982.
Capital
Investment Bonds under section 10(15)(iib) - Bonds notified for
purposes of section 10(15)(iib) : 7 per cent Capital
Investment Bonds—Notification : No. SO 413(E),
dated 11-6-1982.
Relief
Bonds under section 10(15)(iic)
- Notified bonds under
section 10(15)(iic) - 6.5% Relief Bonds, 2003 [with effect from
24-3-2003 - See Notification No. F. 4(9) -
W&M/2003, dated 13-3-2003].
6.5% Saving
Bonds, 2003 shall cease with effect from close of business as on 9-7-2004 - Notification :
No. F.No. 4(9) - W&M/2003, dated 9-7-2004.
8% Relief
Bonds shall cease with effect from 28-2-2003 - Notification
F.No. 4(5) - W&M/2002 (1), dated 28-2-2003.
7% Saving
Bonds, 2002 shall cease with effect from 28-2-2003 - Notification F.No. 4(13) - W&M/2002, dated
28-2-2003.
NRI
Bonds under section 10(15)(iid)
- NRI Bonds notified for
purposes of section 10(15)(iid) :
(a) ‘NRI Bonds, 1988’ issued by the State Bank of
India—Notification : No. SO 847(E), dated
24-10-1989.
(b) ‘NRI Bonds (Second Series)’, issued by the
State Bank of India—Notification : No. SO 551(E),
dated 27-7-1992.
Financial
institutions notified for purposes of section 10(15)(iv)(b) :—
|
|
Institution |
Notification |
|
|
|
|
No. |
Date |
|
1. |
International
Finance Corporation, Washington |
SRO 452 |
31-1-1958* |
|
2. |
Export
Import Bank of Washington, Washington D.C. |
SRO 453 |
31-1-1958* |
|
3. |
Export
Import Bank of Japan, Tokyo |
SRO 1896 |
1-9-1958* |
|
4. |
The
Development Loan Fund, Columbia, U.S.A. |
SRO 1905 |
30-7-1960* |
|
5. |
The Kreditanstalt
fur Wiederaufbau (West German Bank for Reconstruction),
West Germany |
SO 2610 |
24-7-1962 |
|
6. |
The Banque
Francaise du Commerce Exterieur, Paris |
SO 3673 |
5-10-1964 |
*Note : Under section 297(2)(k) of the 1961
Act, the notification issued under section 4(3)(xviib)(ii) of the
1922 Act are deemed to have been issued under section 10(15)(iv)(b)
of the 1961 Act and continue in force accordingly.
Order
under section 10(15)(iv)(c)
- For purposes of section
10(15)(iv)(c) a single consolidated order of exemption
will be issued covering the entire amount of the loan or debt under the
agreement, irrespective of whether the entire goods have been supplied or part
of them are likely to follow in due course—Letter
: [F.No. 21/221-64-IT(A-I)], dated 24-8-1964.
Notified
schemes for purposes of section 10(15)(iv)(i) :—
- Deposit scheme for retired
Government Employees—Notification: No. GSR 598(E),
dated 7-6-1989 as amended by Notification No. F.No. 15/1/93-NS-II, dated
15-3-1993, No. GSR 745(E), dated 10-8-1989 and No. GSR 886(E), dated
12-10-1989. [No new account shall be opened under the Scheme from
the close of business on 9-7-2004]. [Notification : No. F. No.
15-01/2004-NS-II, dated 9-7-2004]
- Deposit scheme for retiring employees
of Public Sector Companies—Notification : No.
2/19/89-NS-II, dated 12-12-1990, as amended by GSR 232 & 233(E), dated
22-4-1991 and 23-4-1991, respectively. [No new account shall be opened
under the Scheme from the close of business on 9-7-2004]. [Notification
: No. F. No. 15-01/2004-NS-II(i), dated 9-7-2004]
Notified
account for purposes of section 10(15)(v)(b) :
- Account No. 807/787 and
57/078049 with State Bank of India, Main Branch, Parliament Street, New Delhi
in the name of Sir Ian Percival, Sole Trustee, Bhopal Hospital Trust—Notification : No. SO 635(E), dated 12-7-1995.
Notified
bonds of local authority under section 10(15)(vii)
|
|
Bonds |
Notification |
|
|
|
|
No. |
Date |
|
n |
Tax Free
Municipal Bonds for an amount of rupees one hundred crore only to be issued
by Municipal Corporation of Ahmedabad, Gujarat, during the financial year
2001-02 |
SO 812(E) |
21-8-2001 |
|
n |
Tax Free
Municipal Bonds for an amount of rupees eighty two crore and fifty lakh only
to be issued by Municipal Corporation of Hyderabad, during the financial year
2001-02 |
SO 275(E) |
4-3-2002 |
|
n |
Tax-free
Municipal Bonds for an amount of rupees fifty crores only to be issued by
Nasik Municipal Corporation, Nasik, during the financial year 2002-03 |
SO 269(E) |
7-3-2003 |
|
n |
Tax-free
Municipal Bonds for an amount of rupees fifteen crores and nineteen lakhs only
to be issued by Municipal Administration and Water Supply Department of
Government of Tamil Nadu during the financial year 2003-04 |
SO 545(E) |
12-5-2003 |
|
n |
Tax Free
Municipal Bonds for the amount of rupees fifty crore only to be issued by
Visakhapatnam Municipal Corporation during the financial year2003-04 |
SO 1481(E) |
29-12-2003 |
|
n |
Tax Free
Municipal Bonds for the amount of rupees fifty crore only to be issued by Hyderabad
Metropolitan Water and Sewerage Board during the financial year 2003-04 |
SO 1482(E) |
29-12-2003 |
|
n |
Tax Free
Municipal Bonds for the amount of rupees fifty eight crore only to be issued
by Ahmedabad Municipal Corporation during the financial year 2003-04 |
SO 364(E) |
16-3-2004 |
|
n |
Tax Free
Municipal Bonds for the amount of rupees forty two crore only to be issued by
Chennai Metropolitan Water Supply and Sewerage Board during the financial
year 2003-04 |
SO 392(E) |
23-3-2004 |
|
n |
Tax Free
Municipal Bonds for the amount of rupees one hundred crore only to be issued
by Karnataka Water and Sanitation Pooled Fund Trust during the financial year
2004-05 |
SO 941(E) |
20-8-2004 |
|
n |
Tax Free
Municipal Bonds for an amount of rupees fifty crores only to be issued by
Chennai Metropolitan Water Supply and Sewerage Board, Chennai, Tamil Nadu
during the financial year 2004-05 |
SO 402(E) |
23-3-2005 |
|
|
|||
|
n |
Tax Free Municipal
Bonds for an amount of rupees one hundred crores only to be issued by
Ahmedabad Municipal Corporation, Ahmedabad during the financial year 2004-05 |
SO 407(E) |
24-3-2005 |
|
|
|||
|
n |
Tax Free Municipal
Bonds for an amount of rupees forty four crores eighty lakhs only to be
issued by Corporation of Chennai, Chennai, Tamil Nadu during the financial
year 2004-05 |
SO 408(E) |
24-3-2005 |
|
|
|||
|
n |
Tax Free Municipal Bonds for an amount of rupees one
hundred crores only to be issued by “Karnataka Water and Sanitation Pooled
Fund Trust, Karnataka” during the financial year 2005-06. |
SO 729(E) |
27-5-2005 |
|
n |
Tax Free Municipal Bonds for an amount of rupees one hundred and
twenty eight crores only to be issued by Nagpur Municipal Corporation during
the financial year 2006-07. |
SO 10(E) |
4-1-2007 |
|
n |
Tax Free Municipal Bonds for an amount of rupees one hundred and fifty
crores only, to be issued by Ahmedabad Municipal Corporation within six
months from the date of publication of notification |
SO 333(E)* |
8-3-2007 |