Specification of eligible bonds under section 80L conditions tax benefit on transferee notice within prescribed period. The Central Government designates certain IPCL bonds as eligible under clause (ii) of sub section (1) of section 80L of the Income tax Act, identifying them as 7 year 13% (taxable) Secured Redeemable Non convertible IPCL Bonds. Continued entitlement to the section 80L benefit after transfer by endorsement or delivery is conditional on the transferee informing the issuing corporation by registered post within sixty days of the transfer.