NOTIFICATION NO. 371/2006, DATED 15-12-2006

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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
:
ten years zero coupon bond of Housing and Urban Development Corporation Limited (HUDCO);
  1. period of life of the bond
:
ten 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
    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]

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Category : Income Tax (25148)
Type : Notifications (15273) Notifications/Circulars (30294)

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