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April 2012

Clarifications for Notification on tax-free bonds from Rural Electrification Board — Notification No. 13/2012, dated 6-3-2012.

By Pinky Shah, Sonalee Godbole, Chartered Accountants
Reading Time 1 mins
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In corrigendum to Notification No. 7/2012, dated 14-2-2012 it is clarified that QIBs shall have meaning as assigned to it in the SEBI (Issue and listing of Debt Securities) Regulations, 2008 and any individual investor investing above 5 lakh would be considered as a HNI.

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