Notification No. 23/2008, Dated 6-2-2008
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); |
| (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.
[F. No. 153/130/2007-TPL]
