Ten years zero coupon bond of National Housing Bank has been specified for the purpose of section 2(48) of I.T.A 1961 - 023/2008 - Income Tax Act, 1961
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Zero coupon bond designation enables specified ten-year NHB bonds to qualify under the Income-tax Act, subject to regulatory conditions. The Central Government designates the ten-year zero coupon bond of National Housing Bank as specified under clause 48 of section 2 of the Income-tax Act, identifying its ten-year term, issuance by March 31, 2009, ten thousand rupees maturity per bond, discount set by NHB at issue, and issuance of thirty lakh bonds, subject to compliance with specified sub-rules and clauses of rule 8B of the Income-tax Rules, 1962.
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 enables specified ten-year NHB bonds to qualify under the Income-tax Act, subject to regulatory conditions.
The Central Government designates the ten-year zero coupon bond of National Housing Bank as specified under clause 48 of section 2 of the Income-tax Act, identifying its ten-year term, issuance by March 31, 2009, ten thousand rupees maturity per bond, discount set by NHB at issue, and issuance of thirty lakh bonds, subject to compliance with specified sub-rules and clauses of rule 8B of the Income-tax Rules, 1962.
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