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Gold Bond subscription on Apr 24-28

Our Staff Reporter, New Delhi
21/04/2017   0 Comments

 


The first tranche of the Sovereign Gold Bonds will hit the market from April 24- 28 for subscription by the public.

The issue price of the Gold bond will be Rs 50 per gram, less than the nominal value. The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.

"Applications for the bond will be accepted from April 24, 2017 to April 28, 2017. The Bonds will be issued on May 12, 2017.They will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges-- National Stock Exchange of India Limited and Bombay Stock Exchange", Ministry of Finance said.  

The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.

The Minimum permissible investment will be 1 gram of gold. The interest on these Bonds will be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond.
 

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