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Notification: S.O.174(E)
Section(s) Referred: 193
Statute: INCOME TAX
Date of Issue: 7/3/1997
In exercise of the powers conferred by clause (iiia) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, the purpose of that clause, the difference payable between the redemption value and the bid price of Zero Coupon Bonds of the Government of India issued under the scheme for sale of Zero Coupon Bonds, 2000 (Third Series) (Second Issue) of Government of India by auction, vide Notification No. F. 4(2)/W & M/96 dated the 25th September, 1996, of the Ministry of Finance (Department of Economic Affairs):
Provided that the said bonds are held by–
(i) a banking company;
(ii) a co-operative bank;
(iii) a public financial institution as defined in section 4A of the Companies Act, 1956 (1 of 1956);
(iv) the Discount and Finance House of India Limited;
(v) the Securities Trading Corporation of India Limited.
[Notification No. 10282/F. No. 275/166/96-IT (B)]
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