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TMI BlogSovereign Gold Bond Scheme (SGB) 2019-20 Series V/VI/VII/VIII/IX/XX X X X Extracts X X X X X X X X Extracts X X X X ..... dated September 30, 2019 announced the Sovereign Gold Bond Scheme 2019-20 Series V/VI/VII/VIII/IX/X. Under the scheme there will be a distinct series (starting from Series V) for every tranche which will be indicated on the Bond issued to the investor. The Government of India (GoI) may, with prior notice, close the Scheme before the specified period. The terms and conditions of the issuance of the Bonds shall be as indicated in the GoI notification. However, we wish to draw your attention in particular to the following: 1. Eligibility for Investment: The Bonds under this Scheme may be held by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dian Rupees fixed on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the last 3 working days of the week preceding the subscription period. The issue price of the Gold Bonds will be ₹ 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. 6. Period of subscription.- The Subscription of the Gold Bonds under this Scheme shall be open as specified in Section 7 below. Provided that the Central Government may, with prior notice, close the Scheme at any time before the period specified above 7. Calendar of Issuance.- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. Receiving Offices Scheduled Commercial Banks (excluding RRBs, Small Finance Banks and Payment Banks), designated Post Offices (as may be notified), Stock Holding Corporation of India Ltd (SHCIL) and recognized stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Ltd. are authorized to receive applications for the Bonds either directly or through agents. 10. Payment Options Payment shall be accepted in Indian Rupees through cash up to a maximum of ₹ 20,000/- or Demand Drafts or Cheque or Electronic banking. Where payment is made through cheque or demand draft, the same shall be drawn in favour of the Receiving Office. 11. Redemption i) The Bonds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g 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. 16. Applications Subscription for the Bonds may be made in the prescribed application form (Form A ) or in any other form as near as thereto, stating clearly the grams of gold and the full name and address of the applicant. Every application must be accompanied by the PAN details issued by the Income Tax Department to the investor(s). The Receiving Office shall issue an acknowledgment receipt in Form B to the applicant. 17. Nomination Nomination of and its cancellation shall be made in Form D and Form E , respectively, in acco ..... X X X X Extracts X X X X X X X X Extracts X X X X
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