Service Mode Offline, Service Location Pan India RBI Relief Bonds, Types Of Services Bond Investment, Service Duration 5 Days

6. 5 savings bonds, 2003 tax free eligibility of investmentthe bonds may be held by, I not being, An individual a non, Resident indiaa in the individual’s individual capacity orb in individual capacity on joint basis, Orc in individual capacity on anyone or survivor basis or d representing a minor as father/mother/legal guardian ii a hindu undivided familymaximum investment thresholdthere will not exist maximum limit of investment in the bondstax concessionthe charges on the obligations will be exempt from income, Tax under the revenue tax act, 1961. The bonds will be exempt from wealth, Tax under the wealth tax act 1957. Issue pricea the bonds will be provided at par b A minimum investment of Rs. 1000 is necessary for the bond issuance face value and in multiplies thereof. Accordingly, The issue price will cost rs 1000/, For every 1, 000/, Nominal interest paymentshalf yearly options the expected attraction will receive payment on 1st january / 1st july. On maturity compounded with half yearly rates and is due for payment at maturity together with principal maturity price will be rs 1, 376. 90 covering both principal and interest for every rs 1, 000/, Invested. Subscriptionsubscriptimoving towards the bonds will be presented as of cash/drafts/ cheques. Transferabilitythe bonds as a version of bond ledger account and stock certificate will not be transferable except by means of gift to a relative defined in the section hailing from the Indian region companies act, 1956, By execution of appropriate transfer form as given in annexure 6a and 6b as may be applicable and an execution of an affidavit by the holder. Advancesthe Bonds will not be available for trading on the secondary market market will not qualify as security for loans from banks or financial organizations and non, Banking financial company nbfc etc. Repaymentthe the repayment of bonds will occur on the expiration of 5 five After the specified maturity date, No additional interest will accumulate from the issuance date bond. Provision for premature encashmentafter minimum lock in span of three units years following the specified date of issue, An investor can surrender the bonds at your convenience after the 6th half year but redemption payment will be produced on the following interest payment scheduled date of indicated below . Thus the effective date of premature encashment will be 1st july and 1st january every year. However 50% of the interest due and payable in the most recent six months of the holding period will be recovered in those instances both concerning both cumulative and non-cumulative options bonds.