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of <h1>50,00,000 SBI Bonds Specified Under Section 80L of Income-tax Act for Tax Purposes</h1> The Central Government, under the authority of clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961, specifies 50,00,000 unsecured Redeemable Subordinated Floating Interest Rate Bonds issued by the State Bank of India. These bonds are in the form of promissory notes, each with a face value of 1,000 rupees. This specification is detailed in Notification No. S.O.289(E), dated March 29, 1994, and is intended for the purposes outlined in the mentioned clause of the Income-tax Act.
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