Tax free municipal bonds designated; tax exemption available only if holders register their holdings with the issuer. The Central Government specified Tax Free Municipal Bonds to be issued by the Municipal Corporation of Hyderabad for a fixed aggregate amount during the relevant financial year under sub clause (vii) of clause (15) of section 10 of the Income tax Act, 1961. The tax exemption is conditional: the benefit is admissible only if the holder registers his or her name and the holding with the issuing Municipal Corporation.