NOTIFICATION NO. 370/2006, 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:-

  1. name of the bond
fifteen years zero coupon bond of Housing and   Urban    Development   Corporation Limited (HUDCO);
  1. period of life of the bond
fifteen years;
  1. the time schedule of the
    issue of the bond
to be issued on or before the 31st day of

March, 2009;
  1. the amount to be paid on
    maturity or redemption of
    the bond
ten lakh rupees for each bond;
  1. the discount
to be decided by HUDCO at the time of issue of the bond; and
  1. the number of bonds to be
five 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]

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Category : Income Tax (25931)
Type : Notifications (15449) Notifications/Circulars (30859)

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