Service Location Pan India 8 Rbi Bonds Taxable, Service Duration 5 Days, Types Of Services Bond Investment

1. Eligibility for investment the an individual can possess bonds, Excluding an Indian citizen living abroad, A in one's unique capacity, Or b acting separately within a shared context basis, Or c in a personal capacity for any individual or according to survivor status or executed by a parent or legal guardian for a minor child hindu undivided family. Iii a charitable institution to mean a company registered under section 25 originating in India companies act 1956 or b an institution which has obtained a Registered certification as a charitable institution in harmony with a law or c, In force any institution which has obtained a certificate from income tax authority for the purposes of section 80g derived from revenue tax act, 1961. Iv university means a university established or incorporated by a central, State or provincial act, And includes an institution declared under section 3 of the university grants commission act, 1956 3 of 1956 intended to be a university for the purposes of that act. 2. Limit of investment there There will be no upper threshold to commit resources for the bonds. 3. Tax treatment i income, Tax the bonds will accrue interest be taxable under the income, Tax act, 1961 as applicable as stated by the relevant tax status related to the bond holder. Ii wealth tax the these bonds will not incur wealth tax under the wealth, Tax act, 1957. 4. Issue price i the bonds will be released at par i. E. At rs. 100. 00 percent. Ii a minimum investment of Rs. 1000/ will be necessary for the issuance of these bonds, Reflecting their face value in the set, Multiples consequently price will be rs. 1000/, For every rs. 1, 000/, Nominal . 5. Subscriptionsubscription the connections will take shape as of cash/drafts/cheques. Cheques or drafts should be drawn in favour of the receiving office, Specified in paragraph 10 below and payable at the place where the applications are tendered. 6. Date of issue i the bonds will be provided with effect from 21st april 2003 and will remain on tap till further notice. Ii the date of issue of the securities represented as a bond ledger account promises to be the date of receipt of subscription in cash or the date of realisation of draft/cheque. 7. Form i the bonds will be issued and held at the credit of the holder in an account called bond ledger account bla . Ii new bond ledger series with the prefix tb are aimed at be opened. All investment in 8% bonds that generate taxable savings by an existing bla holder will be viewed as a new investment under a new bla. Iii the bonds available in of bond ledger account will be issued by and held with assigned outlets of the agency banks and shcil as authorised provided by the monetary authority of india pertaining to paragraph 10 below. Iv the certificate of holding concerning bond ledger account will be issued in form tbx or form tby as applicable for non, Cumulative and cumulative investments respectively. V the certificate of holding in respect of cash applications may be issued on on the same calendar day in accordance with the extant instructions. 8. Nominationa sole holder or a sole surviving holder of a bond, Being an individual, May nominate in form b annex, 4 or as near thereto as may be, One or more persons who shall be entitled to the bond and the payment thereon should the occasion occur of his/her death. 9. Transferabilitythe bond in the form of bond ledger account is not permitted to be transferable.