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of <h1>Central Government Issues Notification for PFC Zero Coupon Bonds Under Section 2(48) of Income-tax Act, 1961</h1> Notification No. 213/2007, dated 3-8-2007, issued under section 2(48) of the Income-tax Act, 1961, specifies a zero coupon bond by the Central Government. The bond is a fifteen-year zero coupon bond issued by Power Finance Corporation (PFC), to be issued on or before March 31, 2009. Each bond will mature or redeem at ten lakh rupees, with the discount determined by PFC at issuance. A total of ten thousand bonds will be issued. This notification is contingent upon compliance with specific conditions outlined in the Income-tax Rules, 1962.
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