The CBDT vide Notification No. 56/2025 dated June 12, 2025 notifies NABARD’s Zero Coupon Bond under section 2(48) of the Income-tax Act. The ₹19,500 crore bond, issued by March 31, 2027, has a tenure of nearly 11 years, a ₹10,349.625 crore discount, and 19.50 lakh units.
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 | – | Rs. 19.50 lakhs |
The Notification can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/06/CBDT-Notification-No.-56_2025.pdf
