2 weeks ago

Karnataka Bank Empanelled to Arrange HUDCO Capital Gain Bonds

Karnataka Bank can now help customers buy HUDCO Capital Gain Bonds.

These bonds are issued by Housing and Urban Development Corporation Limited.

They are described as government-backed investments.

Eligible taxpayers may use them to save tax on certain long-term capital gains.

The bank will collect applications and arrange subscriptions.

Customers can access the bonds through Karnataka Bank branches.

The bank also said it will provide customer-service and relationship-management support.

People interested in investing should ask their nearest branch about eligibility, limits, and terms.

Key facts

Role: Karnataka Bank is an empanelled Arranger and Collector.
Bond issuer: Housing and Urban Development Corporation Limited (HUDCO).
Other issuers mentioned: Rural Electrification Corporation (REC), Power Finance Corporation (PFC), and Indian Railway Finance Corporation (IRFC).
Tax provision: The statement refers to Section 85 of the Income Tax Act, 2025, formerly Section 54EC of the Income Tax Act, 1961.
Investor benefit: Eligible taxpayers may save tax on long-term capital gains.
Access: Customers can subscribe through Karnataka Bank branches.
Further details: Branches can provide information on eligibility, investment limits, subscription procedures, and applicable terms.

thehindubusinessline.com · 2 weeks ago