Tax-free bonds are issued by a government enterprise to raise funds for a particular purpose. They offer a fixed interest rate and hence is a low-risk investment avenue. As the name suggests, its most attractive feature is its absolute tax exemption as per Section 10 of the Income Tax Act of India, 1961.Tax-free bonds generally have a long-term maturity of ten years or more. The government invests the money collected from these bonds in infrastructure and housing.
Features of tax free bonds
These bonds have unique characteristics.
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