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