58. Substituted by the Finance Act, 2007, w.e.f. 1-4-2008. Prior to its substitution, sub-clause (vii), as inserted by the Finance Act, 2000, w.e.f. 1-4-2001, read as under :

“(vii) interest on bonds—

  (a)  issued by a local authority; and

  (b)  specified by the Central Government by notification in the Official Gazette;”