Zero coupon bond specified under the Income-tax Act; issuance, life, discount and redemption terms prescribed. The Central Government has specified the Ten Year Zero Coupon Bond of Indian Railway Finance Corporation Ltd. as a zero coupon bond under the Income-tax Act, prescribing the bond's ten-year tenor, issuance schedule, redemption amount, discount recognised at issuance, and the total number of bonds to be issued, thereby fixing the parameters that determine its tax characterisation under the referenced rules.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Zero coupon bond specified under the Income-tax Act; issuance, life, discount and redemption terms prescribed.
The Central Government has specified the Ten Year Zero Coupon Bond of Indian Railway Finance Corporation Ltd. as a zero coupon bond under the Income-tax Act, prescribing the bond's ten-year tenor, issuance schedule, redemption amount, discount recognised at issuance, and the total number of bonds to be issued, thereby fixing the parameters that determine its tax characterisation under the referenced rules.
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