Enabling resident citizens/Hindu Undivided Family to invest in taxable bonds, the Indian government is all set to launch 7.75% Savings (Taxable) Bonds, January 1oth, 2018 onwards.
Except for Non Resident Indians, everyone can invest in these bonds both jointly and individually. Issued at a price of Rs. 100, the applications for the bond will be accepted in the form of Bond Ledger Account at the designated branches of agency banks and Stock Holding Corporation of India Limited. These non-transferable, exempted from wealth tax bonds will be issued at a minimum amount of Rs. 1000 and will only by taxable under the Income-tax Act, 1961.