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of <h1>Tax-Free Bonds Issued by Indian Renewable Energy Development Agency Exempt Under Section 10(15)(iv)(h), 8.85% Interest Rate</h1> The Central Government specifies that the tax-free (Series-VIII 2007) non-convertible, unsecured, and redeemable bonds issued under section 10(15)(iv)(h) of the Income-tax Act, 1961, are exempt from tax. These bonds, valued at fifty crores each, carry an interest rate of 8.85% per annum, payable semi-annually over seven years. They are issued by the Indian Renewable Energy Development Agency Limited during the financial year 2000-2001, with distinctive numbers ranging from 0000001 to 500000. The tax exemption is applicable only if the bondholder registers their name and holding with the issuing agency.
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