NOTIFICATION NO. 213/2007, DATED 3-8-2007
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)
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name of the bond
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–
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fifteen years zero coupon bond of Power Finance Corporation (PFC);
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(b)
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period of life of the bond
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–
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fifteen years;
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(c)
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the time schedule of the issue of the bond
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–
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to be issued on or before the 31st day of March, 2009;
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(d)
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the amount to be paid on maturity or redemption of the bond
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–
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ten lakh rupees for each bond;
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(e)
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the discount
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–
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to be decided by PFC at the time of issue of the bond; and
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(e)
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the number of bonds to be issued
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ten thousand.
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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.
