23 : Notification: 23 Date of Issue: 06/02/2008
Notification No.
23
Notification Date
06/02/2008
Upload Date
06/02/2008
NOTIFICATION NO. 23/2008, DATED 6-2-2008
In exercise of the powers conferred by clause 48 of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bond with the following particulars as zero coupon bond for the purposes of the said clause, namely :—
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(a)
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Name of the bond
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ten years zero coupon bond of National Housing Bank (NHB);
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(b)
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Period of life of the bond
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ten years;
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(c)
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The time schedule of the issue of the bond
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to be issued on or before the 31st day of March, 2009;
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(d)
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The amount to be paid on maturity or redemption of the bond
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ten thousand rupees for each bond;
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(e)
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The discount
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to be decided by National Housing Bank (NHB) at the time of issue of the bond; and
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(f)
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The number of bonds to be issued
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Thirty lakhs.
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2. This notification is subject to the fulfillment of conditions referred to in clause (ii), clause (iii) and clause (v) of sub-rule (3) and sub-rule (6) of rule 8B of the Income-tax Rules, 1962.
[F. No. 153/130/2007-TPL]