Deduction of interest on securities: specified ICICI Safety Bonds eligible for deduction under section 80L by government notification. The Central Government, under clause (ii) of section 80L of the Income-tax Act, specifies certain bonds issued in the ICICI Safety Bonds-November 1999 public issue as bonds in the nature of debentures eligible for deduction of interest on securities; the notification lists each bond category, distinctive number ranges and the uniform face value per bond to effectuate that specification.
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Provisions expressly mentioned in the judgment/order text.
Deduction of interest on securities: specified ICICI Safety Bonds eligible for deduction under section 80L by government notification.
The Central Government, under clause (ii) of section 80L of the Income-tax Act, specifies certain bonds issued in the ICICI Safety Bonds-November 1999 public issue as bonds in the nature of debentures eligible for deduction of interest on securities; the notification lists each bond category, distinctive number ranges and the uniform face value per bond to effectuate that specification.
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