Inflation indexed savings bonds: cumulative, ten year government securities with inflation linked compounded interest and structured eligibility. Notification prescribes terms for issuance of Inflation Indexed National Savings Securities Cumulative: ten year cumulative bonds issued at par, held in Bonds Ledger Accounts with RBI, bearing a fixed plus inflation linked interest component compounded half yearly and payable at maturity. Resident individuals, HUFs, qualifying charitable institutions and universities are eligible; NRIs are excluded. Bonds are non tradable but may be pledged as collateral; nomination, registration, application, redemption, and premature redemption procedures and limits are prescribed, and interest is taxable under the Income tax Act.
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.
Inflation indexed savings bonds: cumulative, ten year government securities with inflation linked compounded interest and structured eligibility.
Notification prescribes terms for issuance of Inflation Indexed National Savings Securities Cumulative: ten year cumulative bonds issued at par, held in Bonds Ledger Accounts with RBI, bearing a fixed plus inflation linked interest component compounded half yearly and payable at maturity. Resident individuals, HUFs, qualifying charitable institutions and universities are eligible; NRIs are excluded. Bonds are non tradable but may be pledged as collateral; nomination, registration, application, redemption, and premature redemption procedures and limits are prescribed, and interest is taxable under the Income tax Act.
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