9911796707
TMI BlogIssue 8% Savings (Taxable) Bonds, 2003X X X X Extracts X X X X X X X X Extracts X X X X ..... rpose of section 80G of the Income-tax Act, 1961 ; or ( d ) any institution notified by the Central Government under clause ( ii ) or ( iii ) of sub-section (1) of section 35 of Income-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), to be a university for the purposes of that Act. Limit of investment 3. There will be no maximum limit for investment in the Bonds. 4. Tax treatment ( i ) Income-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. ( ii ) Wealth-tax - The Bonds will be exempt from Wealth-tax under the Wealth-tax Act, 1957 . 5. Issue Price ( i ) The Bonds will be issued at par i.e. at ₹ 100.00 per cent. ( ii ) The Bonds will be issued for a minimum amount of ₹ 1,000 (face value) and in multiples thereof. Accordingly, the issue price will be ₹ 1,000 for every ₹ 1,000 (Nominal). Subscription ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ominees and either or any of them dies before such payment becomes due, the title to the bond shall vest in the surviving nominee or nominees and the amount being due thereon shall be paid accordingly. In the event of the nominee or nominees predeceasing the holder, the holder may make a fresh nomination. ( iii ) No nomination shall be made in respect of the Bonds issued in the name of a minor. ( iv ) A nomination made by a holder of a bond may be varied by a fresh nomination in Form B or as near thereto as may be, or may be cancelled by giving notice in writing to the Receiving office in Form C annexed to the notification (TB-5). ( v ) Every nomination and every cancellation or variation shall be registered at the Receiving Office where the bond is issued and shall be effective from the date of such registration. ( vi ) If the nominee is a minor, the holder of a bond may appoint any person to receive the bond/amount due in the event of his death during the minority of the nominee. Transferability 12. The Bonds in the form of Bond Ledger Account shall not be transferable. Interest 13. The Bonds will bear interest at the rate of 8% per annum. Inte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Official Seal. 1. (Name.............) 2.(Name..............) Designation Designation Nomination Registered at Sl. No. Signature of the Head of the Receiving Office/the officer next to him. Note : This certificate is non-negotiable. Details of Bonds held in the Bond Ledger Account Sl. No. Investment Transfer Due Date of Repayment* Repayment Balance Initials under bank s seal Date Amount Date Amount Date Amount 1 2 3 4 5 6 7 8 9 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. (Name.......................) Designation Designation Nomination Registered at Sl. No. Signature of the Head of the Receiving Office/ officer next to him. Note : This certificate is non-negotiable. Details of Bonds held in the Bond Ledger Account Investment Transfer Due date of repayment* Repayment Balance Initials under bank s seal Date Amount (Nominal) Date Amount (Nominal) Date Amount (Nominal) Nominal Maturity Value 1 2 3 4 5 6 7 8 9 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Date of credit to Spl. current A/c Date of Credit to Govt. Account Bond Ledger A/c No. Branch Manager Rubber Stamp of Receiving Office with full address *Declaration form to be filled in and submitted, if applicable. I/We request that the bonds may be issued to me/us as indicated below : [ ] Bond ledger account may be opened in my/our name [ ] May be credited to my/our bond ledger Account No. .......... I/We wish to draw interest on maturity/cumulative [ ]@ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Date of birth (in case of m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... State PIN Full name and address of 2nd applicant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ession of 3rd Applicant Note : @Interest on Bonds in the form of Bond Ledger Account by credit to the bank account to the holder or by cheque/warrant. In case of thumb impression. HUF Declaration Form (Refer to Annexure 2 - Form A (See para 9) (Only if applicant is Karta of HUF) I, SEX : M. [ ] F. [ ] Residing at the address given against the first applicant, do solemnly affirm That I am the Karta of the Hindu Undivided Family styled ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egal guardian, a guardianship certificate granted by a competent court under the provisions of Guardians and Wards Act (Act of 1890) should be produced. 4. In case of minor applicant, a birth certificate issued by the Municipal or other competent authority, church, Registrar of Birth/s or a Magistrate, Head of a Gram Panchayat or Head Master of a School - disclosing the name and the date of birth of the minor should be produced in original (along with one xerox copy) for verification. 5. The application shall bear the signature/thumb impression of the applicant/s. The thumb mark should be witnessed by 2 respectable persons. 6. If the application is signed by a person other than the investor, a Power of Attorney authorising the signatory should be submitted along with the application. The P.O.A. should contain express provision to receive interest and the principal amount due under the Bonds and/or to negotiate or transfer the Bonds. The P.O.A. should also be unconditional. In case the P.O.A. is executed abroad, it should be attested by a Notary Public of the place where it is executed and notarised afresh in India (duly stamped). 7. The Karta of HUF making an ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rnment Account. 14. The bond is repayable after a period of six years from the date of issue. 15. Applications for Bonds in the form of Bond Ledger Account will be received at branches of State Bank of India, Associate Banks and Nationalized Banks, four private sector banks and SHCIL specified in the Annexure 3 of the Government Notification. 16. Brokerage at the rate of ₹ 1.00 (Rupee one only) per ₹ 100 will be paid to the brokers listed in Para 10( a ) and ( b ) and to PPF and UTI Agents enrolled with them as also to authorised banks on the applications tendered by them on behalf of their clients and bearing their stamp. 17. The Bonds shall not be tradable in secondary market and not eligible as collateral for loan from banks, financial institutions and NBFC, etc. Annexure 3 List of Banks handling 8% Savings (Taxable) Bonds, 2003 Work Name of the Bank No. of Branches 1. State Bank of India 285 2. State Bank of Bikaner Jaipur 30 3. State B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f my death during the minority of the said nominee. $$ ............. The nomination is in substitution of the nomination dated ......... made by me and registered on your books at ........ which shall stand cancelled on registration of this nomination. @To be filled in by the bank opening the account. ................................................................................... (Signature/Thumb impression of holder) Place : Date : Signature with name and address of witness: 1. ........................................................................................ 2. ........................................................................................ Place : Date : $To be filled in, if nominee is a minor $$Name of nominee (Minor) The para may be deleted, if the nomination is not in substitution of the one already made. Annexure 5 Form C [ See Para 11( iv )] 8% Savings (Taxable) Bonds, 2003 Notice of Cancellation of Nomination I ................. (Name and address) do hereby cancel the nomination dated .......... made by me in respect of the following Bond Ledger Account and registered by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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