For the purpose of section 2(48) of the Income-tax Act, 1961 Central Government specified Ten Years Zero Coupon Bond of HUDCO - 371/2006 - Income Tax

For the purpose of section 2(48) of the Income-tax Act, 1961 Central Government specified Ten Years Zero Coupon Bond of HUDCO NOTIFICATION NO. 371/2006, DATED 15-12-2006 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 Housing and Urban Development Corporation Limited (HUDCO); (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 31 st day of March, 2009; (d) the amount to be paid on maturity or redemption of the bond : ten lakh rupees for each bond; (e) the discount : to be decided by HUDCO at the time of issue of the bond; and (f) the number of bonds to be issued : ten thousand. 2. This notification is subject to the fulfilment 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. [F. No. 142/30/2006-TPL]