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of <h1>Government Launches Tax-Free 7-Year Rural Electrification Bonds at 9.25% Under Section 10(15)(iv)(h) of Income-tax Act</h1> The Central Government has specified the issuance of 7-year, 9.25% per annum tax-free Rural Electrification Corporation Bonds under section 10(15)(iv)(h) of the Income-tax Act, 1961. These bonds, part of the 2004 XXXII Series, include 150 bonds valued at Rs. 1,00,000 each, totaling Rs. 1.5 crore, and 297 bonds valued at Rs. 50,00,000 each, totaling Rs. 148.5 crore. The total issuance amounts to Rs. 150 crore. The tax-free benefit is available only if bondholders register their names and holdings with the Rural Electrification Corporation Limited.
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