Tax-free bonds from National Housing Bank under Swarn Jayanti scheme are exempt under section 10(15)(iv)(h) of Income-tax Act.

The Central Government has specified that Tax-free Bonds issued by the National Housing Bank under the Swarn Jayanti Rural Housing Finance scheme for the 1999-2000 period are exempt from taxation under section 10(15)(iv)(h) of the Income-tax Act, 1961. These bonds, each valued at one lakh rupees, carry an interest rate of 8.5% per annum over seven years, with a total issuance amount of 150 crores. The bonds, numbered C-00001 to C-15000, are eligible for tax exemption only if the holder registers their name and holding with the National Housing Bank.

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