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SOVEREIGN GOLD BONDS, 2015-16

Income Tax - IDMD.CDD.NO.939/14.04.050/2015-16 - Dated:- 30-10-2015 - CIRCULAR IDMD.CDD.NO.939/14.04.050/2015-16 DATED 30-10-2015 It has been decided by the Government of India, as per their Notification F.No. 4(19)-W&M/2014 dated October 30, 2015, to issue Sovereign Gold Bonds, 2015 ("the Bonds") with effect from November 05, 2015 to November 20, 2015. The Government of India may, with prior notice, close the Scheme before the specified period. The terms and conditions of the issu .....

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ce with section 3 of the Government Securities Act, 2006. The investors will be issued a Holding Certificate (Form C). The Bonds shall be eligible for conversion into de-mat form. 3. Date of Issue Date of issuance shall be November 26, 2015. The investors can apply for the Bonds in receiving offices from November 05, 2015 to November 20, 2015. The issuance can be closed by Government of India earlier than November 20, 2015 with a prior notice. 4. Denomination The Bonds shall be denominated in un .....

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nterest The Bonds shall bear interest at the rate of 2.75 per cent (fixed rate) per annum on the amount of initial investment. Interest shall be paid in half-yearly rests and the last interest shall be payable on maturity along with the principal. 7. Receiving Offices Scheduled commercial banks (excluding RRBs) and designated Post Offices (as may be notified) are authorized to receive applications for the Bonds either directly or through agents. 8. Payment Options Payment shall be accepted in In .....

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hall be fixed in Indian Rupees on the basis of the previous week's (Monday - Friday) simple average closing price for gold of 999 purity, published by IBJA. 10. Repayment The receiving office shall inform the investor of the date of maturity of the Bonds, one month before its maturity. 11. Eligibility for Statutory Liquidity Ratio (SLR) The investment in the Bonds shall be eligible for SLR. 12. Loan against Bonds The Bonds may be used as collateral for loans. The Loan to Value ratio will be .....

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