Zero coupon bond designation under section 2(48) clarifies tax character of SIDBI ten year issue subject to rule 8B conditions Central Government designates the ten year zero coupon bond of the Small Industries Development Bank of India as a zero coupon bond for the Income tax Act, specifying name, ten year term, issue by 31 March 2009, maturity payment of twenty one thousand six hundred rupees per bond, discount to be decided at issue, total issuance of five lakh bonds, and subjecting the designation to conditions in sub rule (3) and sub rule (6) of rule 8B of the Income tax Rules, 1962.