National Highways Authority of India (NHAI) has been issuing long term Capital Gain Tax Exemption Bonds u/s 54EC of Income Tax Act 1961. The applicable rate of interest for bond series has been amended w.e.f 1st December, 2016 as detailed below:
(i) Application Money to be credited in NHAI’s Collection Accounts on or after 1st December, 2016 will be 5.25% P.A. till maturity of bonds.
(ii) Application Money to be credited in NHAI’s Collection Accounts on or before 30th November 2016 will remain 6% P.A. till maturity of bonds.
Therefore, the Information Memorandum (IM) dated 07th April 2016, Application Form and the Bond Certificate stands amended to the extent of Interest Rate/Coupon Rate as above.