Sovereign Gold Bonds issued in grams with 2.5% interest, fixed pricing by three day bullion average, and eight year redemption terms. The Sovereign Gold Bond Scheme 2018-19 issues government stock certificates denominated in grams of 999 purity gold, purchasable by specified Indian persons and entities within annual gram ceilings. Nominal value is set by the three day simple average bullion price; online digital applicants receive a rupee per gram discount. Bonds carry 2.50% fixed interest payable semi annually, are convertible to Demat, tradable on RBI notification, redeemable at eight years (premature after five years), usable as loan collateral under RBI LTV norms, and feature taxable interest with capital gains exemption on redemption for individuals.
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.
Sovereign Gold Bonds issued in grams with 2.5% interest, fixed pricing by three day bullion average, and eight year redemption terms.
The Sovereign Gold Bond Scheme 2018-19 issues government stock certificates denominated in grams of 999 purity gold, purchasable by specified Indian persons and entities within annual gram ceilings. Nominal value is set by the three day simple average bullion price; online digital applicants receive a rupee per gram discount. Bonds carry 2.50% fixed interest payable semi annually, are convertible to Demat, tradable on RBI notification, redeemable at eight years (premature after five years), usable as loan collateral under RBI LTV norms, and feature taxable interest with capital gains exemption on redemption for individuals.
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