Tax-free railway bonds designated as qualifying instruments; tax benefit contingent on holder registration with the issuer. Central Government specifies 10-year 9 per cent. tax-free redeemable non-convertible railway bonds of one thousand rupees each (Sixth Series) issued by the Indian Railway Finance Corporation Limited as qualifying instruments for the income-tax exemption category. The notification makes entitlement to the exemption conditional on the holder registering his name and holding with the issuing corporation.