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100 FAQ's on Basic Finance

Module Units

Tax-Free Bonds

Tax-free bonds are issued by the Government to raise long-term funds, usually for a specific purpose. An example of these includes municipal bonds. It is a low-risk investment option that offers a fixed rate of interest. The most attractive benefit is the tax exemption as per Section 10 of the Income Tax Act of India, 1961. It has a long-term maturity of 10 years and more.

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Units 41/101