https://www.taxtmi.com/acts?id=3690 Pro rata discount on a zero coupon bond is computed by converting the bond's life into calendar months, counting a partial month of fifteen days or more as a full month, and ignoring a shorter part. The total discount is divided by the resulting number of months. Where months fall within a previous year, the monthly amount is multiplied by the number of those months to determine the pro rata amount of discount for that year. en-us Sat, 19 Jan 2008 22:45:54 +0530 Mon, 18 May 2026 16:10:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3690 Pro rata discount on a zero coupon bond is computed by converting the bond's life into calendar months, counting a partial month of fifteen days or more as a full month, and ignoring a shorter part. The total discount is divided by the resulting number of months. Where months fall within a previous year, the monthly amount is multiplied by the number of those months to determine the pro rata amount of discount for that year. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3690