Notification no. 34/2025 dated 17.04.2025- Income tax

Central Board of Direct Taxes (CBDT) issued notification no. 34/2025 dated 17.04.2025 whereby the Central Government 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 Housing and Urban Development Corporation Ltd.
(b) period of life of the bond – Ten years one month
(c) the time schedule of the issue – To be issued on or before the 31st day of of the bond March 2027
(d) the amount to be paid on maturity – Rs. 5,000 crores or redemption of the bond
(e) the discount – Rs. 2,351.49 crores
(f) the number of bonds to be issued – Five lakhs

2. Housing and Urban Development Corporation Ltd. shall utilise the proceeds from such bonds only for those
   infrastructure projects which can service the debt out of the project revenues without being dependent on the State
   Governments for the service of debts.

Explanation: For the purpose of this notification,
(a) ‘Infrastructure’ includes all infrastructure sub-sectors as defined vide notification no. 262 of the Department
of Economic Affairs, Ministry of Finance issued by F.No.13/1/2017-INF dated October 11, 2022 (Updated
Harmonised Master List of Infrastructure sub-sectors) and shall include any amendments or additions made
thereof;
(b) ‘Infrastructure project’ means any project in Infrastructure sector.