tax-free bonds - interest rate of up to 8 percent

No.402/92/2006-MC (01 of 2009)
Government of India / Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
***
New Delhi dated the 20th January 2009
PRESS RELEASE

The Central Board of Direct Taxes (CBDT), vide Notification No.09/2009, have approved the issue of tax-free bonds of India Infrastructure Finance Company Limited carrying an interest rate of up to 8 percent aggregating to an amount of Rs.10,000 crore during the financial year 2008-09.
The income from interest on the investment in these bonds will be exempt from income tax in the hands of the investor. In order to be eligible for exemption from income tax, the bonds must be registered in the name of the holder.

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