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of <h1>Central Government Announces Tax-Free Municipal Bonds Under Section 10(15)(vii) for FY 2004-2005; Registration Required for Benefits.</h1> Notification No. 114/2005, dated March 24, 2005, issued by the Central Government under Section 10(15)(vii) of the Income-tax Act, 1961, specifies Tax Free Municipal Bonds to be issued by the Corporation of Chennai. These bonds, amounting to four crores eighty lakhs rupees, are to be issued during the financial year 2004-2005. The tax-free benefit is applicable only if the bondholder registers their name and holding with the Corporation of Chennai.
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