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of <h1>Central Government Announces 7-Year 8.35% Tax-Free Bonds Under Section 10(15)(iv)(h) of Income-tax Act, 1961</h1> The Central Government has specified 7-year 8.35% tax-free bonds (2004-XXXIVth series) under section 10(15)(iv)(h) of the Income-tax Act, 1961. These bonds, issued by Rural Electrification Corporation Limited, are valued at Rs. 50,00,000 each, totaling Rs. 100 crores, with distinctive numbers from 600001 to 600200. The tax-free benefit is applicable only if the bondholder registers their name and holding with the Corporation.
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