India - Income Tax Act 2010 - Saarc

S. 10(15) I.T. ACT, 1961 1.60(15) 7 [(i) income by way of interest, premium on redemption or otherpayment on such securities, bonds, annuity certificates, savingscertificates, other certificates issued by the Central Government anddeposits as the Central Government may, by notification 8 in theOfficial Gazette, specify in this behalf, subject to such conditions andlimits as may be specified in the said notification ;]9[(iib) 10 [in the case of an individual or a Hindu undivided family,]interest on such Capital Investment Bonds as the Central Governmentmay, by notification 11 in the Official Gazette, specify in this behalf :]12[Provided that the Central Government shall not specify, for thepurposes of this sub-clause, such Capital Investment Bonds on orafter the 1st day of June, 2002;]13[(iic) in the case of an individual or a Hindu undivided family,interest on such Relief Bonds 14 as the Central Government may, bynotification in the Official Gazette, specify in this behalf ;]15[(iid) interest on such bonds, as the Central Government may, bynotification 16 in the Official Gazette, specify, arising to—(a) a non-resident Indian, being an individual owning the bonds ; or(b) any individual owning the bonds by virtue of being a nominee orsurvivor of the non-resident Indian ; or(c) any individual to whom the bonds have been gifted by the nonresidentIndian :Provided that the aforesaid bonds are purchased by a non-residentIndian in foreign exchange and the interest and principal received inrespect of such bonds, whether on their maturity or otherwise, is notallowable to be taken out of India :Provided further that where an individual, who is a non-residentIndian in any previous year in which the bonds are acquired, becomesa resident in India in any subsequent year, the provisions of this subclauseshall continue to apply in relation to such individual :7. Substituted for sub-clauses (i), (ia), (ib), (ii) and (iia) by the Direct Tax Laws (Amendment)Act, 1987, w.e.f. 1-4-1989. Original sub-clauses (ia) and (ib) were inserted by the TaxationLaws (Amendment & Miscellaneous Provisions) Act, 1965, w.e.f. 4-12-1965 and SpecialBearer Bonds (Immunities & Exemptions) Act, 1981, w.e.f. 12-1-1981, respectively ; subclause(ii) was amended by the Finance (No. 2) Act, 1965, w.e.f. 11-9-1965, the Finance Act,1979, w.e.f. 1-4-1980 and the Finance Act, 1987, w.r.e.f. 1-4-1983 ; and sub-clause (iia) wasinserted by the Finance Act, 1968, w.e.f. 1-4-1969.8. For notified securities, bonds, annuity certificates, savings certificates, etc., see Taxmann’sMaster Guide to Income-tax Act.9. Inserted by the Finance Act, 1982, w.e.f. 1-4-1983.10. Inserted by the Finance Act, 1983, w.e.f. 1-4-1983.11. For notified capital investment bonds, see Taxmann’s Master Guide to Income-tax Act.12. Inserted by the Finance Act, 2002, w.e.f. 1-4-2003.13. Inserted by the Finance Act, 1988, w.e.f. 1-4-1989.14. For details, see Taxmann’s Master Guide to Income-tax Act.15. Inserted by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989.16. For specified NRI bonds, see Taxmann’s Master Guide to Income-tax Act.