National Rural Development Bonds issuance provides tax-preferred government securities with specified investment limits, interest and transfer rules. Notification issues 7-year National Rural Development Bonds available on tap from the specified commencement date, issued at par and repayable at par on maturity, bearing annual interest payable yearly and disbursed through designated Public Debt Offices. Investment is limited to the net consideration from transfer of a long-term capital asset, defined as sale proceeds less transfer-related expenditure. Applications must follow prescribed form, multiples and payment channels; bonds are transferable by transfer deed subject to registration. Interest and bond value qualify for specified income-tax and wealth-tax exemptions, with procedures for refund of tax deducted at source.
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National Rural Development Bonds issuance provides tax-preferred government securities with specified investment limits, interest and transfer rules.
Notification issues 7-year National Rural Development Bonds available on tap from the specified commencement date, issued at par and repayable at par on maturity, bearing annual interest payable yearly and disbursed through designated Public Debt Offices. Investment is limited to the net consideration from transfer of a long-term capital asset, defined as sale proceeds less transfer-related expenditure. Applications must follow prescribed form, multiples and payment channels; bonds are transferable by transfer deed subject to registration. Interest and bond value qualify for specified income-tax and wealth-tax exemptions, with procedures for refund of tax deducted at source.
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