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 :-

(a)
name of the bond
fifteen years zero coupon bond of Power Finance Corporation (PFC);
(b)
period of  life of the bond
fifteen 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 lakh rupees for each bond;
(e)
the discount
to be decided by PFC at the time of issue of the bond; and
(e)
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.

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Category : Income Tax (28344)
Type : Notifications (16076) Notifications/Circulars (32598)

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