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of <h1>Tax-Free Bonds by National Housing Bank: 9.15% Interest, 7-Year Term, Section 10(15)(iv)(h) Exemption for Registered Holders</h1> The Central Government has specified tax-free bonds issued by the National Housing Bank under the Swarna Jayanti Rural Housing Finance scheme for the fiscal year 1998-99. These bonds, valued at Rs. 1,00,000 each with an interest rate of 9.15% per annum, are valid for seven years and total Rs. 100 crores. They are identified by distinctive numbers from B-1/00001 to B-/10000. The tax exemption under section 10(15)(iv)(h) of the Income-tax Act, 1961, applies only if the bondholder registers their name and holding with the National Housing Bank.
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