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<h1>Central Government Specifies Tax-Free REC Bonds Under Section 10(15)(iv)(h) of Income-tax Act, 1961</h1> The Central Government specifies the '10-year--9% (Tax-free) Secured Redeemable REC Bonds (15th Series), 1997,' issued by the Rural Electrification Corporation Limited, under section 10(15)(iv)(h) of the Income-tax Act, 1961. These bonds are tax-free, and the benefit is available only if the bondholder registers their name and holding with the Corporation. This specification is made under Notification No. S.O.203(E), dated February 23, 1988, in accordance with the powers granted by the relevant section of the Income-tax Act.