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of <h1>Central Government Designates REC Limited's Ten-Year Deep Discount Bond as Zero Coupon Bond Under Income-tax Act, 1961</h1> The Central Government, exercising its authority under the Income-tax Act, 1961, specifies the ten-year Deep Discount Bond issued by Rural Electrification Corporation Limited as a zero coupon bond. This bond is set to be issued on or before March 31, 2011, with a maturity or redemption value of thirty thousand rupees per bond. A total of twenty-five lakh bonds will be issued, with a discount amounting to 4,736.25 crores.
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