194A(3)
This query is : Resolved
K Venkatesh Shenoy
(Querist)
21 November 2009
what this section defines about zero coupon bond?
Aditya Maheshwari
(Expert)
24 November 2009
As per 36(1)(iiia) [(iiia) the pro rata amount of discount on a zero coupon bond having regard to the period of life of such bond calculated in the manner as may be prescribed36a.
Explanation.—For the purposes of this clause, the expressions—
(i) “discount†means the difference between the amount received or receivable by the infrastructure capital company or infrastructure capital fund or public sector company issuing the bond and the amount payable by such company or fund or public sector company on maturity or redemption of such bond;
(ii) “period of life of the bond†means the period commencing from the date of issue of the bond and ending on the date of the maturity or redemption of such bond;
(iii) 37[***]]
Explanation.—For the purposes of this clause, the expressions—
(i) “discount†means the difference between the amount received or receivable by the infrastructure capital company or infrastructure capital fund or public sector company issuing the bond and the amount payable by such company or fund or public sector company on maturity or redemption of such bond;
(ii) “period of life of the bond†means the period commencing from the date of issue of the bond and ending on the date of the maturity or redemption of such bond;
(iii) 37[***]]
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