Thursday, April 15, 2010

Deep Discount Bond


The Central Government has approved  notification of 10 years Deep Discount Bond (Zero Coupon Bond) of Rural Electrification Corporation Limited (REC) to be issued by 31st March, 2011 as specified bonds for the purpose of Sub-section 48 of Section 2 of Income Tax Act, 1961. 

Income from such bonds will be taxable under Income Head Capital Gain only on transfer or redemption  or maturity of bonds.

To read Complete Notification (Click Here)

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