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of <h1>Tax Deduction Now Includes Subscriptions to NABARD Bonds Under Section 80C, Effective April 1, 2008.</h1> Section 80C of the Income-tax Act has been amended by the Finance Act, 2007, to include a new clause in sub-section (2). Effective from April 1, 2008, clause (xxii) allows for tax deductions on subscriptions to specific bonds issued by the National Bank for Agriculture and Rural Development. These bonds must be specified by the Central Government through a notification in the Official Gazette.
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