Power Finance Corporation's Ten Year Zero Coupon Bond Specified Under Section 2(48) of Income-tax Act

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....The Central Government has specified the Ten Year Zero Coupon Bond of Power Finance Corporation Ltd. as a zero coupon bond under section 2(48) of the Income-tax Act, 1961. The bond has a lifespan of ten years and one month, with issuance scheduled on or before March 31, 2027. Each bond will be redeemed at Rs. 100,000 with a discount of Rs. 49,546. The total issue comprises ten lakh bonds. This notification was issued pursuant to the powers conferred by clause (48) of section 2 of the Income-tax Act, read with relevant provisions of the Income-tax Rules, 1962.....