Friday, January 13, 2012
Indian Railway Finance Corporation Limited proposes tax free bonds
Indian Railway Finance Corporation Limited (IRFC) has proposed to issue Tax Free Bonds to raise money from the market to finance the outlay of Indian Railways.
The income by way of interest on these Bonds is fully exempt from Income Tax and shall not form part of Total Income as per provisions under Section 10 (15) of IT Act. Moreover, there will be no deduction of tax at source from the interest, which accrues to the bondholders on these bonds irrespective of the amount of the interest or the status of the investors
IRFC is the financing arm of the Indian Railways and a Public Financial Institution under Section 4A of the Companies Act, 1956, which is fully held by Government of India
Click here for complete details on IRFC Tax Free Bonds
The income by way of interest on these Bonds is fully exempt from Income Tax and shall not form part of Total Income as per provisions under Section 10 (15) of IT Act. Moreover, there will be no deduction of tax at source from the interest, which accrues to the bondholders on these bonds irrespective of the amount of the interest or the status of the investors
IRFC is the financing arm of the Indian Railways and a Public Financial Institution under Section 4A of the Companies Act, 1956, which is fully held by Government of India
Click here for complete details on IRFC Tax Free Bonds
Tags
# Bonds and Debentures
# IRFC Bonds
# IRFC Tax Free Bonds
# Section 10 (15) Exemption
# Tax free Bond Interest
# Tax Free Bonds
# Tax-free Bonds
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