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<h1>7.85% NHB-Priority Sector Bonds 2001-02 declared tax-free under section 10(15) of Income-tax Act, 1961.</h1> The Central Government has specified that the 7.85% NHB-Priority Sector Bonds 2001-02, issued by the National Housing Bank, are tax-free under section 10(15) of the Income-tax Act, 1961. These bonds, with distinctive numbers from E/00001 to E/07500, were issued during 2001-2002 and are valued at one lakh rupees each, amounting to a total of seventy-five crores. They carry an interest rate of 7.85% per annum for seven years. To qualify for tax benefits, bondholders must register their names and holdings with the National Housing Bank.