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of <h1>Income-tax Act Update: Interest Rate Correction on Public Sector Bonds from 6.50%-7.25% to 6%-7.25% in Section 10(15)(iv)(h).</h1> Section 10(15)(iv)(h) of the Income-tax Act, 1961 provides an exemption for interest on bonds or debentures issued by public sector companies. Notification No. 16/2010, dated March 22, 2010, serves as a corrigendum to a previous notification by the Ministry of Finance, specifically correcting the interest rate range from '6.50% to 7.25%' to '6% to 7.25%.' This amendment was published in the Gazette of India, Extraordinary, and is referenced under F.No.178/126/2009-ITA.I.
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