Central Government hereby authorizes Indian Railway Finance Corporation (IRFC) to issue, during Financial Year 2009-10, tax free secured, redeemable, non-convertible Railway Bond

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NEW DELHI, WEDNESDAY, FEBRUARY 3, 2010/MAGHA 14, 1931

MINISTRY OF FINANCE

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(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

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New Delhi, the 3rd February, 2010

(INCOME TAX)

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S.O. 241(E).—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 authorizes Indian Railway Finance Corporation (IRFC) to issue, during Financial Year 2009-10, tax free secured, redeemable, non-convertible Railway Bonds of Rs. 1,000 each in case of public issue and Rs. 1,00,000 each in other cases, aggregating an amount of five thousand crore rupees only, carryirg an interest rate in the range of 6.50% to 7.25% per annum, depending upon the size and tenor of a tranche :

Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his or her name and the holding with the said Corporation.

[Notification No. 07/2010/F. No. 178/126/2009-ITA-1] LK+) fig, 3114-{ Tfr-4-4 ( 3T*31-3ii)

PADAM SINGH, Under Secy. (ITA-1)402 GI/2010 Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.