Notification No. 08/2010/F. No.164/03/2008-ITA.I, dated 3-2-2010

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 following particulars of zero coupon bonds for the purposes of the said clause, namely:—

(a) Name of the bond Bhavishya Nirman Bond (a ten year zero coupon bond) of National Bank of  Agriculture and Rural Development (NABARD);
(b) period of life of the bond ten years;
(c) the time schedule of the Issue of bond to be issued on or before the 31st day of March, 2011;
(d) the amount to be paid on maturity or redemption of the bond twenty thousand rupees for each bond;
(e) the discount to be decided by NABARD at the time of issue of the bond; and
(f) the number of bonds to be issued Ninety-five lakhs and twenty thousand

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.

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Category : Income Tax (28055)
Type : Notifications (15995) Notifications/Circulars (32357)

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