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        Direct Taxes

        Para 12 - Redemption

        Sovereign Gold Bond Scheme 2022-23 (Starting From Series III)

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        Redemption terms for sovereign gold bonds tie rupee repayment to average gold closing prices and permit post-fifth-year premature redemption. Redemption of Sovereign Gold Bonds is payable at the end of an eight-year term; premature redemption is allowed after the fifth year and is effected on an interest payment date. Redemption is in Indian Rupees and the price equals the simple average of the closing price of 999 purity gold for the three preceding working days as published by the India Bullion and Jewellers Association Limited. The RBI or depository must inform the investor one month before maturity.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Redemption terms for sovereign gold bonds tie rupee repayment to average gold closing prices and permit post-fifth-year premature redemption.

                                Redemption of Sovereign Gold Bonds is payable at the end of an eight-year term; premature redemption is allowed after the fifth year and is effected on an interest payment date. Redemption is in Indian Rupees and the price equals the simple average of the closing price of 999 purity gold for the three preceding working days as published by the India Bullion and Jewellers Association Limited. The RBI or depository must inform the investor one month before maturity.


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