New Delhi : Government of India has announced to launch of 7.75% Savings (Taxable) Bonds, 2018 commencing from 10th January 2018 to enable resident citizens\/HUF to invest in a taxable bond, without any monetary ceiling. The main features of the Bonds are:<\/p>\n
(i) Who can invest: The Bonds are open to investment by individuals (including Joint
\nHoldings) and Hindu Undivided Families. NRIs are not eligible for making investments in these Bonds.<\/p>\n
(ii) Subscription: Applications for the Bonds in the form of Bond Ledger Account will be received in the designated branches of agency banks and SHCIL in all numbering about 1600.<\/p>\n
(iii) Issue Price: The Bonds will be issued at par i.e. at Rs.100.00<\/p>\n
The Bonds will be issued for a minimum amount of Rs.1,000\/- (face value) and in multiples thereof. Accordingly, the issue price, will be Rs.1,000\/- for every Rs.1,000\/- (Nominal).<\/p>\n
The Bonds will be issued in demat form (Bond Ledger Account) only.<\/p>\n
(iv) Period: The Bonds will be on tap till further notice and issued in cumulative and non-cumulative forms.<\/p>\n
(v) Limit of investment: There will be no maximum limit for investment in the Bonds.<\/p>\n
(vi) Tax treatment:
\nIncome-tax: Interest on the Bonds will be taxable under the Income-tax Act, 1961 as applicable according to the relevant tax status of the bond holder.<\/p>\n
Wealth tax: The Bonds will be exempt from Wealth-tax under the Wealth Tax Act, 1957.<\/p>\n
(vii) Maturity and rate of interest: The Bonds will have a maturity of 7 years carrying interest at 7.75% per annum payable half- yearly. The cumulative value of Rs. 1,000\/- at the end of seven years will be Rs. 1,703.<\/p>\n
(viii) Transferability: The Bonds are not transferable.<\/p>\n
The Bonds are not tradeable in the Secondary market and are not eligible as collateral for loans from banking institutions, non-banking financial companies or financial institutions.<\/p>\n
(ix) Nomination: A sole holder or a sole surviving holder of a Bond, being an individual, can make a nomination<\/p>\n
Full details of the scheme are available in the Gazette Notification dated 3rd January 2018<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi : Government of India has announced to launch of 7.75% Savings (Taxable) Bonds, 2018 commencing from 10th January 2018 to enable resident citizens\/HUF to invest in a taxable bond, without any monetary ceiling. The main features of the Bonds are: (i) Who can invest: The Bonds are open to investment by individuals (including […]<\/p>\n","protected":false},"author":2,"featured_media":17172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[312,315],"tags":[],"class_list":["post-17171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india","category-top-stories"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/17171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=17171"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/17171\/revisions"}],"predecessor-version":[{"id":17173,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/17171\/revisions\/17173"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/17172"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=17171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=17171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=17171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}