Dear
Sirs,
Redemption
of Special US Dollar Bonds
Please
refer to EDMD Circular No. 4 dated 11th August 2001 on the
captioned subject.
In regard to reinvestment of Bonds of three years maturity
as provided in Rule 10(3) of Special US Dollar Bonds Rules
1998 and amended from time to time, it is clarified as under:
-
1.
Immunities against Income tax and levy of wealth tax will
continue to be available to:-
-
Special US Dollar Bonds of bearer and registered categories
purchased prior to 16th December 1999.
-
Special US Dollar Bonds of registered category purchased
from frozen Foreign Currency Accounts on or after 16th December
1999.
2.
Zakat shall not be deducted on Bonds of both the categories.
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