Zero Coupon Bond
NOTIFICATION NO: 23/2008, Dated: February 6, 2008
In exercise of the powers conferred by clause 48 of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bond with the following particulars as zero coupon bond for the purposes of the said clause, namely:-
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(a) name of the bond |
- ten years zero coupon bond of National Housing Bank |
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(b) period of life of the bond |
- ten years; |
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(c) the time schedule of the issue of the bond |
- to be issued on or before the 31st day of March, 2009; |
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(d) the amount to be paid on maturity or redemption of the bond |
- ten thousand rupees for each bond; |
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(e) the discount |
- to be decided by National Housing Bank (NHB) at the |
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(f) the number of bonds to be issued |
- Thirty lakhs. |
2. This notification is subject to the fulfillment of conditions referred to in clause (ii), clause (iii) and clause (v) of sub-rule (3) and sub-rule (6) of rule 8B of the Income-tax Rules, 1962.
CAclubindia
Garima
Published in Investments & Personal Finance