Ministry of Finance Department of Revenue Central Board of Direct Taxes

Notification u/s 2(48) of the Income Tax Act, 1961 in the case of Zero Coupon Bond of REC Ltd.

Issue Date: 02 June 2025 Published: 02 June 2025

Gazette ID: CG-DL-E-02062025-263521 Download PDF

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Core Purpose

The Central Government specifies the Ten Year Zero Coupon Bond of REC Ltd. as a zero coupon bond for the purposes of clause (48) of Section 2 of the Income-tax Act, 1961.

Detailed Summary

The Ministry of Finance (Department of Revenue), Central Board of Direct Taxes (Income Tax), through Notification S.O. 2447(E) dated 30th May, 2025 (Notification No. 52/2025, F. No. 300164/5/2024-ITA-1), exercising 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, specifies the Ten Year Zero Coupon Bond of REC Ltd. as a zero coupon bond for the purposes of the said clause (48) of Section 2. The bond has a period of life of Ten years six months and is to be issued on or before the 31st day of March 2027. The amount to be paid on maturity or redemption is Rs. 5,000 crores, the discount is Rs. 2,200 crores, and the number of bonds to be issued is Five lakhs.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-02062025-263521 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 2388] NEW DELHI, MONDAY, JUNE 2, 2025/JYAISTHA 12, 1947 2 THE GAZETTE OF INDIA: EXTRAORDINARY [PART II-SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue) Central Board of Direct Taxes (Income Tax) NOTIFICATION New Delhi, the 30th May, 2025 S.O. 2447(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 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, namely:- (a) name of the bond (b) period of life of the bond (c) the time schedule of the issue of the bond (d) the amount to be paid on maturity or redemption of the bond (e) the discount (f) the number of bonds to be issued Ten Year Zero Coupon Bond of REC Ltd. Ten years six months To be issued on or before the 31st day of March 2027 Rs. 5,000 crores Rs. 2,200 crores Five lakhs [Notification No. 52/2025 F. No. 300164/5/2024-ITA-1] MEENAKSHI SINGH, Dy. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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