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February 6, 2008

NOTIFICATION NO. 23/2008

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 National Housing Bank (NHB);

(b)

Period of life of the bond

-

ten 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 thousand rupees for each bond;

(e)

The discount

 -

to be decided by National Housing Bank (NHB) at the time of issue of the bond; and

(f)

The number of bonds to be issued

 -

Thirty lakhs.

 

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. 153/130/2007-TPL]

 

Go to "Income Tax Update - 2008" Listings

  

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