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of <h1>Rule 8B: Apply for Zero Coupon Bonds with Form 5B, Adhere to Specific Timelines, Conditions, and Documentation</h1> Rule 8B of the Income Tax Rules, 1962, outlines the procedure for infrastructure capital companies, funds, or public sector companies to apply for notification of zero coupon bonds. Applications must be submitted in Form No. 5B three months before bond issuance and cannot be for bonds issued beyond two financial years from the application date. Required documents include incorporation certificates or trust deeds. Bonds must have a life of 10-20 years, investment grade ratings, and be listed on a recognized stock exchange. Companies must commit to specific investment timelines for funds raised. The government can reject applications or withdraw notifications if conditions are unmet. Applications and accountant certificates must be submitted electronically.
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