Specified debentures under section 80L: Flexibonds-7 series bonds are recognized for the section's specification mechanism. The Central Board of Direct Taxes, under clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961, specifies three types of debentures issued in the Flexibonds-7 public issue-Regular Income Bond, Growing Interest Bond and Retirement Bond-issued by the Industrial Development Bank of India, Mumbai, within the declared issuance period, bearing stated distinctive numbers and a face value of five thousand rupees each, for the purposes of the said clause.