Sovereign Gold Bond Scheme 2020 21 issues gram denominated government gold bonds with 2.50% interest and specified subscription limits. The Scheme issues Sovereign Gold Bonds as Government of India Stock in gram denominations, available to resident individuals, HUFs, trusts, charitable institutions and universities. Annual subscription ceilings: 4 kg for individuals/HUFs and 20 kg for trusts; nominal value fixed by the three day average gold price of 999 purity, with Rs.50 per gram discount for online digital payments. Bonds bear 2.50% p.a. interest payable half yearly, have an eight year tenor with premature redemption from year five, are transferable and tradable, usable as loan collateral subject to LTV norms, and receive capital gains tax exemption on redemption for individuals.
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Provisions expressly mentioned in the judgment/order text.
Sovereign Gold Bond Scheme 2020 21 issues gram denominated government gold bonds with 2.50% interest and specified subscription limits.
The Scheme issues Sovereign Gold Bonds as Government of India Stock in gram denominations, available to resident individuals, HUFs, trusts, charitable institutions and universities. Annual subscription ceilings: 4 kg for individuals/HUFs and 20 kg for trusts; nominal value fixed by the three day average gold price of 999 purity, with Rs.50 per gram discount for online digital payments. Bonds bear 2.50% p.a. interest payable half yearly, have an eight year tenor with premature redemption from year five, are transferable and tradable, usable as loan collateral subject to LTV norms, and receive capital gains tax exemption on redemption for individuals.
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