Online Updated Classes for CA CS CMA Subjects for Nov 21/May 22 Exams. Enroll Now!! Call: 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Zero Coupon Bond



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:-

(a) name of the bond

- ten years zero coupon bond of National Housing Bank
(NHB);
ten years;

(b) period of life of the bond

- ten years;

(c) the time schedule of the issue of the bond

- to be issued on or before the 31st day of March, 2009;

(d) the amount to be paid on maturity or redemption of the bond

- ten thousand rupees for each bond;

(e) the discount

- to be decided by National Housing Bank (NHB) at the
time of issue of the bond; and

(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.

 

Garima
on 15 February 2008
Published in Shares & Stock
Source : ,










Trending Tags