Govt. notifies Bond of Power Finance Corporation Ltd under Zero Coupon Bond as per Income Tax:

Govt. notifies Bond of Power Finance Corporation Ltd under Zero Coupon Bond as per Income Tax The Central Board of Direct Taxes (CBDT) has notified Bond of Power Finance Corporation Ltd. under Zero Coupon Bond via issuing a notification. The Notification Read as Follows: In exercise of the powers conferred by clause (48) of section 2 of the Income-tax Act, 1961 (43 of 1961), read with clause (ii), clause (iii) and clause (v) of sub-rule (3) and sub-rule (6) of rule 8B of the Income-tax Rules, 1962, the Central Government hereby specifies the bond with the following particulars as zero coupon bond for the purposes of the said clause (48) of section 2 of the said Act. The names are following:

(a)	name of the bond	Ten Year Zero Coupon Bond of Power Finance Corporation Ltd.
(b)	period of life of the bond	Ten years one month
(c)	the time schedule of the issue of the bond	To be issued on or before the 31st day of March, 2027
(d)	the amount to be paid on maturity or redemption of the bond	Rs.1,00,000 for each bond
(e)	the discount	Rs. 49,546 per bond
(f)	the number of bonds to be issued	Ten lakhs

For Official Notification Download PDF Given Below: