Ministry of Finance Department of Revenue Central Board of Direct Taxes

Notification under section 2(48) of the Income tax Act 1961 in the case of The National Bank for Agriculture and Rural Development

Issue Date: 12 June 2025 Published: 12 June 2025

Gazette ID: CG-DL-E-12062025-263756 Download PDF

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Core Purpose

The Central Government specifies a Zero Coupon Bond of The National Bank for Agriculture and Rural Development (NABARD) 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, issued Notification S.O. 2576(E) on 12th June, 2025, exercising powers conferred by clause (48) of section 2 of the Income-tax Act, 1961 (43 of 1961), read with sub-rule (3) clauses (ii), (iii), (v) and sub-rule (6) of rule 8B of the Income-tax Rules, 1962. This notification specifies a Zero Coupon Bond of The National Bank for Agriculture and Rural Development (NABARD) with a period of life of ten years eleven months thirteen days. The bond is to be issued on or before 31st March 2027, with an amount of Rs.19,500 crores to be paid on maturity or redemption, a discount of Rs. 10,349.625 crores, and 19.50 lakhs bonds to be issued.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-12062025-263756 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 2512] NEW DELHI, THURSDAY, JUNE 12, 2025/JYAISTHA 22, 1947 3796 GI/2025 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th June, 2025 (INCOME TAX) S.O. 2576(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 - Zero Coupon Bond of The National Bank for Agriculture and Rural Development (NABARD) (b) period of life of the bond - Ten years eleven months thirteen days (c) the time schedule of the issue - To be issued on or before the 31st day of March 2027 of the bond (d) the amount to be paid on maturity or redemption of the bond - Rs.19,500 crores (e) the discount - Rs. 10,349.625 crores (f) the number of bonds to be issued - 19.50 lakhs [Notification No. 56 /2025/ F.No.300164/4/2024-ITA-1] MEENAKSHI SINGH, Dy. Secy.

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