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of <h1>Government Approves ICICI Bonds for Tax Exemption Benefits Under Section 80L of Income-tax Act, 1961</h1> The Central Government has specified 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, in the nature of debentures, were part of a public issue of Safety Bonds in November 2000. The notification, dated December 10, 2002, outlines the allotment details for various options of Tax Saving Bonds and Regular Income Bonds, including the number of bonds allotted and their respective amounts. This specification allows investors in these bonds to benefit from tax exemptions under the stated section.
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