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of <h1>Central Government Specifies ICICI Bonds for Tax Purposes u/s 80L of the Income-tax Act, 1961.</h1> The Central Government, under the powers granted by section 80L of the Income-tax Act, 1961, specifies certain bonds in the nature of debentures for tax purposes. These bonds were issued by the Industrial Credit and Investment Corporation of India Limited, Mumbai, during its public issue of Safety Bonds in April 1998. The specified bonds include Regular Income Bonds I, II, and III, and Tax Saving Bonds 1 and 2, each with a face value of Rs. 5000. The total amounts raised through these bonds are detailed, with distinctive numbers provided for each bond category.
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