Home Notifications 2008 Income Tax Income Tax - 2008 Section 002(48) This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Ten years zero coupon bond of National Housing Bank has been specified for the purpose of section 2(48) of I.T.A 1961 - 023/2008 - Income TaxExtract Ten years zero coupon bond of National Housing Bank has been specified for the purpose of section 2(48) of I.T.A 1961 Notification No 23/2008 Dated: February 6, 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); ten years; (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 (Sambit Tripathy) Under Secretary to the Government of India
|