Specification of bonds under Section 80L: Central Government recognises ICICI Safety Bonds for tax benefit eligibility. Central Government specifies bonds in the nature of debentures issued by ICICI in the public issue 'Safety Bonds July, 2000' as eligible under clause (ii) of Sub section (1) of Section 80L of the Income tax Act, 1961, and itemises categories of Tax Saving Bonds and Regular Income Bonds with their allotment particulars.