For the purpose of section 2(48) of the Income-tax Act, 1961 Central Government specified Twenty Years Zero Coupon Bond of IDFC - 374/2006 - Income Tax Act, 1961
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Zero coupon bond designation for IDFC grants specified tax classification subject to compliance with prescribed conditions. The Central Government specifies the zero coupon bond of IDFC for the purposes of section 2(48) of the Income-tax Act by naming the bond, fixing its twenty-year life, prescribing the issuance window, stating the maturity payment and issuer-determined discount, and setting the number of bonds; the notification is subject to fulfilment of conditions in the Income-tax Rules governing zero coupon bonds.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Zero coupon bond designation for IDFC grants specified tax classification subject to compliance with prescribed conditions.
The Central Government specifies the zero coupon bond of IDFC for the purposes of section 2(48) of the Income-tax Act by naming the bond, fixing its twenty-year life, prescribing the issuance window, stating the maturity payment and issuer-determined discount, and setting the number of bonds; the notification is subject to fulfilment of conditions in the Income-tax Rules governing zero coupon bonds.
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