Sovereign Gold Bonds Last Date: The Sovereign Gold Bonds 2023-24 Series IV, which was opened for public subscription on February 12, goes to be closed as we speak, February 16, 2024. The issuance will happen on February 21, 2024. Here are key issues that you must find out about sovereign gold bonds.
The SGB 2023-24 Series III was opened for subscription in December 2023.
Sovereign Gold Bonds 2023-24: Who Is Eligible To Buy?
The SGBs, which can be issued by the Reserve Bank of India on behalf of the federal government, can be restricted on the market to resident people, Hindu Undivided Families (HUFs), trusts, universities and charitable establishments, in accordance with the assertion.
Sovereign Gold Bonds 2023-24: Price, Interest Rate Returns
Investors could buy a unit of SGB for Rs 6,263, which is the worth per gram.
Once issued, the SGB traders can be compensated at a set charge of two.50 per cent every year payable semi-yearly on the nominal worth.
Payment for the SGBs can be by means of money fee (as much as a most of Rs 20,000) or demand draft or cheque or digital banking.
Sovereign Gold Bonds 2023-24: Minimum Investment
The minimal permissible funding can be one gram of gold, whereas the utmost restrict of subscription shall be 4 kg for particular person, 4 kg for HUF and 20 kg for trusts and related entities per fiscal yr (April-March) notified by the federal government once in a while.
Sovereign Gold Bonds 2023-24: Redemption
The redemption worth can be in Indian Rupees based mostly on a easy common of the closing worth of gold of 999 purity, of the earlier three working days revealed by IBJA Ltd.
Sovereign Gold Bonds 2023-24: Can It Be Used As Collateral For Loans?
The bonds can be utilized as collateral for loans. The mortgage-to-worth (LTV) ratio is to be set equal to the bizarre gold mortgage mandated by the Reserve Bank once in a while, the finance ministry mentioned within the assertion.
Sovereign Gold Bonds 2023-24: Income Tax Applicability
“The interest on SGBs shall be taxable as per the provision 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. SGBs shall be eligible for trading,” it added.
How to purchase Sovereign Gold Bonds (SGBs) on-line?
Step 1: First log in to your respective web banking account.
Step 2: From the principle menu, choose ‘e-Service’ and click on on ‘Sovereign Gold Bond’.
Step 3: For new clients, choose ‘Register’. Then learn the phrases and circumstances set by the Reserve Bank of India (RBI), and proceed.
Step 4: Enter all required SGB scheme particulars in addition to details about the depository participant from CDSL or NSDL, relying on the place your demat account is hosted.
Step 5: Submit the web registration kind.
Step 6: After registration, choose the buying choice from the header hyperlink/part or instantly choose ‘Purchase’.
Step 7: Enter your subscription amount in addition to nominee particulars.
Step 8: To full the method, key within the one-time password (OTP) despatched to your registered cell quantity.
