NOTIFICATION NO. 374/2006, 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:-

 

(a) name of the bond
:
ten  years  zero  coupon  bond  of Infrastructure   Development   Finance Company Limited (IDFC);
(b) period of life of the bond
:
twenty 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 IDFC at the time of issue of the bond; and

 
(f) 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 (iv) of sub-rule (3) and sub-rule (6) of rule 8B of the Income-tax Rules, 1962.

[F. No. 142/45/2006-TPL]

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Category : Income Tax (25503)
Type : Notifications (15398) Notifications/Circulars (30678)

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