Notification of zero coupon bond under clause (48) of section 2 of Income tax Act, 1961

4949 GI/202 3 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 3290] NEW DEL HI, TUES DAY, AUGUST 1, 2023/ SHRAVANA 10, 1945 CG-DL-E-01082023-247756 MINISTRY OF FINANCE (Department of Revenue ) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 1st August, 2023 (INCOME TAX) S.O. 3440(E). —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 clau se (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, namely : - (a) name of the bond -Ten Year Zero Coupon Bond of REC Ltd. (b) period of life of bond -ten years one months (c) the time schedule of the issue - to be issued on or before the 31st day of March of bond 2025; (d) t he amount to be paid on - 1 lakh rupees for each bond maturity or redemption of the bond (e) the discount - Rs. 2517.85 crores (f) the number of the bonds to - five lakhs be issued [Notification No. 56/2023 /F. No.164/1/2023 -ITA-1] VIKAS SINGH , Director Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controlle r of Publications, Delhi -110054.