|2.||Rate of Interest||
8.0% per annum (Taxable)
|7.||Date of Issue||
Date of realization of the funds
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Features of 8% (Taxable) GOI Savings Bonds, 2003
Payment of Interest
- Non-cumulative (half yearly): Interest to the holders opting for non-cumulative bonds will be paid from date of issue up to 31st July/31st January as the case may be and thereafter half yearly for period ending 30th June /31st December on 1st August and 1st February
- Cumulative Interest at the rate of 8% per annum compounded with half yearly rests and will be paid to the investor on maturity along with principal. (the maturity value of the bonds shall be Rs 1601.00/- for every Rs1000/-) (subject to TDS as applicable)
Interest on the Bond will be taxable under Income-Tax Act,1961
The bonds will be exempt from Wealth-Tax under the Wealth-Tax Act, 1957
This facility will be available for Individual investment on sole holder or surviving holder basis. Customer can provide nomination by applying in Form B
This facility will not be available for joint holdings and minor investment
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