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of <h1>Central Government Designates ICICI Bonds as Tax-Exempt under Section 80L of Income-tax Act for Investor Benefits</h1> The Central Government specifies certain bonds issued by the Industrial Credit and Investment Corporation of India Limited, Mumbai, as eligible under Section 80L of the Income-tax Act, 1961. These bonds, issued in February 2000 as part of a public issue of Safety Bonds, include Tax Saving Bonds and Regular Income Bonds with various options. The notification details the number of bonds allotted, their monetary value, and distinctive numbers. This specification is in accordance with the powers conferred by the relevant clause of the Income-tax Act, aimed at providing tax benefits to investors.
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