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of <h1>NABARD's Ten Year Zero Coupon Bond Designated Under Section 2(48) of Income-tax Act, 1961</h1> The Central Government has designated the Ten Years Zero Coupon Bond of the National Bank of Agriculture and Rural Development (NABARD) as a zero coupon bond under section 2(48) of the Income-tax Act, 1961. The bond has a ten-year term, is to be issued by March 31, 2009, and will mature at twenty thousand rupees per bond. The discount rate will be determined by NABARD at issuance. A total of 1,310,000 bonds will be issued. This notification is contingent upon compliance with specific conditions outlined in the Income-tax Rules, 1962.
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