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FinMin allows IRFC to issue Rs 5,000-crore tax-free bonds
The finance ministry today allowed the Indian Railway Finance Corporation (IRFC) to issue Rs 5,000 crore of tax-free bonds, carrying an interest rate in the range of 6.50-7.25 per cent per annum by March 31, 2010. The interest income on investment in these bonds will be exempt from income tax under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 under whose name
The finance ministry today allowed the Indian Railway Finance Corporation (IRFC) to issue Rs 5,000 crore of tax-free bonds, carrying an interest rate in the range of 6.50-7.25 per cent per annum by March 31, 2010. The interest income on investment in these bonds will be exempt from income tax under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 under whose name
IRFC seeks Ministry nod for tax-free bonds
New Delhi: Indian Railway Finance Corporation (IRFC) has written to the Finance Ministry seeking approval for issuing tax-free bonds. The Finance Ministry had permitted IRFC to raise tax-free
New Delhi: Indian Railway Finance Corporation (IRFC) has written to the Finance Ministry seeking approval for issuing tax-free bonds. The Finance Ministry had permitted IRFC to raise tax-free
IRFC allowed to float tax-free bonds for Rs 5,000 cr
For the first time since 2003-04, the Indian Railway Finance Corporation (IRFC) has been permitted to issue tax-free bonds as part of its budgeted borrowing programme of Rs 9,000 crore for 2009-10.
For the first time since 2003-04, the Indian Railway Finance Corporation (IRFC) has been permitted to issue tax-free bonds as part of its budgeted borrowing programme of Rs 9,000 crore for 2009-10.
IRFC to borrow Rs 9000 cr in 2009/10
Indian Railways Finance Corporation, the financing arm of the railways, will borrow Rs 9000 crore via bonds in the 2009/10 financial year, according to railways budget documents.
Indian Railways Finance Corporation, the financing arm of the railways, will borrow Rs 9000 crore via bonds in the 2009/10 financial year, according to railways budget documents.
IRFC may have to go for public issue
With the Indian Railways increasingly raising funds from the market, Indian Railway Finance Corporation (IRFC) may have to go for an initial public offer (IPO) this fiscal or early next fiscal to rais
With the Indian Railways increasingly raising funds from the market, Indian Railway Finance Corporation (IRFC) may have to go for an initial public offer (IPO) this fiscal or early next fiscal to rais
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