The Bonds may be held by –
- An individual, not being a Non-Resident Indian (NRI)
- In his or her individual capacity, or
- In an individual capacity on joint basis, or
- In an individual capacity on anyone or survivor basis, or
- On behalf of a minor as father/mother/legal guardian
- Hindu Undivided Family.
- Few Points
- 'Charitable Institution' to mean a Company registered under Section 25 of the Indian Companies Act 1956 or
- An institution which has obtained a Certificate of Registration as a charitable institution in accordance with a law in force; or
- Any institution which has obtained a certificate from Income Tax Authority for the purpose of Section 80G of the Income Tax Act, 1961.
- "University" means a university established or incorporated by a Central, State or Provincial Act, and includes an institution declared under section 3 of the University Grants Commission Act, 1956 (3 of 1956), to be a university for the purposes of that Act.
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