- TG Team
- | Income Tax - Notifications- Notifications/Circulars |
- 15 Dec 2006
- 658 Views
- 0 comment
NOTIFICATION NO. 372/2006, 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:-
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(a) name of the bond
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:
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ten years zero coupon bond of National Bank of Agriculture and Rural Development (NABARD);
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(b) period of life of the bond
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:
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ten years;
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(c) the time schedule of the
issue of the bond |
:
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to be issued on or before the 31st day of March, 2009;
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(d) the amount to be paid on maturity or redemption of the bond
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:
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twenty thousand rupees for each bond;
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(e) the discount
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:
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to be decided by NABARD at the time of issue of the bond; and
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(f) the number of bonds to be issued
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:
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one crore three lakhs and ten thousand.
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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. 142/32/2006-TPL]
Tags: Income Tax Notifications
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