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Govt slashes NHAI Capital Gain Tax Exemption Bonds coupon rate

Press Trust of India  |  New Delhi 

has reduced coupon rate on long-term Capital Gain Exemption Bonds under the Act 1961 with effect from December 1, 2016.

National Authority of (NHAI) has been issuing these tax-saving bonds for quite some time now.



The coupon rate on 54 EC Bonds has been reduced to 5.25 per cent per annum, from 6 per cent, the Ministry of Road Transport and said today.

"Application money to be credited in NHAI's collection accounts on or after December 1, 2016 will be 5.25 per cent per annum till maturity of bonds," it added.

The application money to be credited in NHAI's collection accounts on or before November 30, 2016, will remain 6 per cent per annum till maturity of bonds.

"Therefore, the Information Memorandum (IM) dated April 7, 2016, Application Form and the Bond Certificate stand amended to the extent of interest rate/coupon rate as above," the ministry said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Govt slashes NHAI Capital Gain Tax Exemption Bonds coupon rate

Government has reduced coupon rate on long-term Capital Gain Tax Exemption Bonds under the Income Tax Act 1961 with effect from December 1, 2016. National Highways Authority of India (NHAI) has been issuing these tax-saving bonds for quite some time now. The coupon rate on 54 EC Bonds has been reduced to 5.25 per cent per annum, from 6 per cent, the Ministry of Road Transport and Highways said today. "Application money to be credited in NHAI's collection accounts on or after December 1, 2016 will be 5.25 per cent per annum till maturity of bonds," it added. The application money to be credited in NHAI's collection accounts on or before November 30, 2016, will remain 6 per cent per annum till maturity of bonds. "Therefore, the Information Memorandum (IM) dated April 7, 2016, Application Form and the Bond Certificate stand amended to the extent of interest rate/coupon rate as above," the ministry said. has reduced coupon rate on long-term Capital Gain Exemption Bonds under the Act 1961 with effect from December 1, 2016.

National Authority of (NHAI) has been issuing these tax-saving bonds for quite some time now.

The coupon rate on 54 EC Bonds has been reduced to 5.25 per cent per annum, from 6 per cent, the Ministry of Road Transport and said today.

"Application money to be credited in NHAI's collection accounts on or after December 1, 2016 will be 5.25 per cent per annum till maturity of bonds," it added.

The application money to be credited in NHAI's collection accounts on or before November 30, 2016, will remain 6 per cent per annum till maturity of bonds.

"Therefore, the Information Memorandum (IM) dated April 7, 2016, Application Form and the Bond Certificate stand amended to the extent of interest rate/coupon rate as above," the ministry said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Govt slashes NHAI Capital Gain Tax Exemption Bonds coupon rate

has reduced coupon rate on long-term Capital Gain Exemption Bonds under the Act 1961 with effect from December 1, 2016.

National Authority of (NHAI) has been issuing these tax-saving bonds for quite some time now.

The coupon rate on 54 EC Bonds has been reduced to 5.25 per cent per annum, from 6 per cent, the Ministry of Road Transport and said today.

"Application money to be credited in NHAI's collection accounts on or after December 1, 2016 will be 5.25 per cent per annum till maturity of bonds," it added.

The application money to be credited in NHAI's collection accounts on or before November 30, 2016, will remain 6 per cent per annum till maturity of bonds.

"Therefore, the Information Memorandum (IM) dated April 7, 2016, Application Form and the Bond Certificate stand amended to the extent of interest rate/coupon rate as above," the ministry said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22