Government allows NHAI to issue tax free Infrastructure Bonds

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The government of India has allowed National Highways Authority of India (NHAI) to issue Tax Free Infrastructure Bonds aggregating to Rs. 24000 crore and Capital Gain Tax Exemption Bonds aggregating to Rs. 4000 crore in the financial year 2015-16, the Ministry of Road Transport & Highways, Pon Radhakrishnan informed Parliament.

In a written reply in the Lok Sabha, Radhakrishnan said that the Ministry of Finance, Department of Economic Affairs has conveyed their in-principle approval for issue of Tax Free Infrastructure Bonds on April 17. However, no such concurrence is required for issue of Capital Gain Tax Exemption Bonds.

Tax Free Infrastructure Bonds to be issued by NHAI is likely to be having tax benefits under section 10(15) (iv) (h) of Income Tax Act 1961, he added.

Story first published: Friday, April 24, 2015, 13:00 [IST]
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