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TMI BlogSovereign Gold Bond Scheme 2016-17 – Series IVX X X X Extracts X X X X X X X X Extracts X X X X ..... a) "Form" means a form appended to this Scheme; b) "receiving office" means the offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks (as specified in Annexure I to this notification), designated Post Offices (as specified in Annexure II to this Notification), Stock Holding Corporation of India Ltd. (SHCIL) and the authorised stock exchanges as specified in Annexure III to this notification. c) "Stock Certificate" means the Gold Bond issued in the form of Government of India Stock in accordance with section 3 of the Government Securities Act, 2006. 3. Eligibility for Investment: The Gold Bonds under this Scheme may be held by a Trust, HUFs, Charitable Institution, University or by a person resident ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a law in force; or Any institution which has obtained a certificate from an Income Tax Authority for the purposes of Section 80G of the Income Tax Act, 1961. (v) "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 the Act." 4. Denomination, Subscription limit and Pricing -- (i) The bonds will be issued in denominations of one gram of gold or multiples thereof. Provided that the minimum limit of subscription in the Bonds issued under Series IV shall be of one gram and maximum limit of subscription shall be of five hundred grams per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r this Scheme shall open on and from the 27th day of February 2017 and shall close on the 3rd day of March 2017; Provided that the Central Government may, with prior notice, close the Scheme before the period specified above. 8. Interest: (i) The interest on the Gold Bonds shall commence from the date of its issue and shall have a fixed rate of interest at 2.50 per cent per annum on the nominal value. (ii) The interest shall be payable in half-yearly rests and the last interest shall be payable along with the principal on maturity. 9. Receiving Offices: The receiving offices shall be authorised to receive applications for the Bonds either directly or through agents. 10. Payment Options: (i) All payments for Gold Bond shall be accept ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The interest on the Gold Bond shall be taxable as per the provisions of the Income-tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual is exempted. The 'indexation benefits will be provided to long-term capital gains arising to any person on transfer of bond' 15. Nomination: Nomination of and its cancellation shall be made in Form 'D' and Form 'E', respectively, in accordance with the provisions of the Government Securities Act, 2006 (38 of 2006) and the Government Securities Regulations, 2007, published in part III, Section 4 of the Gazette of India dated the 1st December 2007. 16. Transfer of Gold Bonds: The Gold Bonds issued in the form of Stock Certificate are transferable by execution of a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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