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of <h1>Central Government Recognizes HUDCO's Ten-Year Zero Coupon Bond Under Section 2(48) of Income-tax Act, 1961</h1> The Central Government, under section 2(48) of the Income-tax Act, 1961, specifies the Ten Years Zero Coupon Bond issued by the Housing and Urban Development Corporation Limited (HUDCO) as a zero coupon bond. The bond has a life period of ten years and is to be issued on or before March 31, 2009. Each bond will mature or be redeemed for ten lakh rupees, with the discount determined by HUDCO at issuance. A total of ten thousand bonds will be issued. This notification is contingent upon meeting specific conditions outlined in the Income-tax Rules, 1962.
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