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of <h1>Zero Coupon Bonds: Tax Implications on Redemption Value Difference in Section 193(iiia) for Banks and Financial Institutions</h1> The Central Government, under the Income-tax Act, 1961, specifies the difference payable between the redemption value and the bid price of Zero Coupon Bonds as per section 193(iiia). This applies to bonds with a five-year tenure issued by the Government of India under a scheme for auctioned Zero Coupon Bonds, as detailed in a 1994 notification by the Ministry of Finance. The specified difference is relevant for bonds held by banking companies, cooperative banks, public financial institutions, Discount and Finance House of India Limited, and Securities Trading Corporation of India Limited.
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