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of <h1>Government Introduces 5.15% Tax-Free Bonds by Housing and Urban Development Corporation Under Income-Tax Act, 1961</h1> The Central Government specifies the issuance of '5.15% Housing and Urban Development Corporation Limited Tax-free Bonds Series-XXXIV' under the Income-tax Act, 1961. These bonds, totaling fifty crores with a face value of ten lakhs each, bear an interest rate of 5.15% per annum for ten years. Issued by the Housing and Urban Development Corporation Limited in New Delhi during the 2003-04 financial year, they are identified by distinctive numbers from 001 to 500. The tax-free benefit is available only if the bondholder registers their name and holdings with the Corporation.
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