| Eligibility |
Individuals, Minors, HUF. NRI’s not allowed.
(Specific Trusts & Institutions eligible for 8% bonds) |
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| Min-Max Investment |
Rs. 1000/- & in Multiples of Rs. 1000/- thereafter. No max limit. |
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| Interest Option |
Half Yearly or Cumulative |
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| Maturity Value |
Rs. 1000/- Shall be Rs.1601.00 under cumulative option |
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| Int. pyt. Dates |
1st Feb & 1st Aug |
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| Tenure |
6 years |
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| Transferability |
Non – Transferable except by way of gift to a relative as defined in Sec. 6 of the Indian Companies Act, 1956. |
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| Tradability |
Not tradable in secondary market. |
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| Loan Facility |
The Bonds shall not be eligible as collateral for loans from banks, financial institutions and NBFC’s. |
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| Wealth Tax |
The Bonds will be exempt from Wealth Tax. |
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| Form |
The Bonds will be issued in demat form in Bond Ledger Account. |
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| Cheque/DD Favoring |
“Bank name – 8% GOI Savings (Taxable) Bond, 2003" |
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| Value Date |
Date of Realisation of Cheque / DD / Date of Cash deposit. |
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| Nomination Facility |
a) This facility will be available for Individual investment for sole holder
b) This facility will not be available for joint holdings and minor investment |
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| List of documents |
1) POA executed in India – for POA investment
2) Birth Certificate of the minor – minors investments
3) Guardians certificate – incase of guardians investment on behalf of a minor |
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| For Institutions |
• ‘Charitable Institution’ under section 25 of the Indian Companies Act 1956.
• An Institution, which has obtained Certificate of Registration as charitable institution.
• Any Institution which has obtained certificate from Income Tax Authority U/S 80G of Income Tax Act, 1961.
• Any institution notified by the Central Government under clauses (ii) or (iii) of Sub-Section (1) of Section 35 of Income Tax Act, 1961.
DOCUMENTS REQUIRED:
1) Trust Registration Certificate (attested)
2) Trust Deed (attested copy)
3) Trust Resolution on trust letterhead
4) List of authorised signatories &
5) Applicants who have obtained exempted from tax under the relevant provisions of the Income Tax Act obtained from Income Tax authorities, 1961, shall make a declaration to the effect in the application and submit a true copy of the certificate. |
