TaxTMI 
TaxTMI 
Issue 8% Savings (Taxable) Bonds, 2003
X X X X Extracts X X X X
X X X X Extracts X X X X
.... in accordance with a law in force; or (c) any institution which has obtained a certificate from an Income-tax Authority for the purpose of section 80G of the Income-tax Act, 1961; or (d) any institution notified by the Central Government under clause (ii) or (iii) of sub-section (1) of section 35 of Income-tax Act, 1961], (iv) "University" means a university established or incorporated by a Central, State or Provincial Act, and includes an institution declared under section 3 of the University Grants Commission Act, 1956 (3 of 1956), to be a university for the purposes of that Act. Limit of investment 3. There will be no maximum limit for investment in the Bonds. 4. Tax treatment (i) Income-tax - Interest on the Bonds will be taxable under the Income-tax Act, 1961 as applicable according to the relevant tax status of the bond holder. (ii) Wealth-tax - The Bonds will be exempt from Wealth-tax under the Wealth-tax Act, 1957. 5. Issue Price (i) The Bonds will be issued at par i.e. at Rs. 100.00 per cent. &....
X X X X Extracts X X X X
X X X X Extracts X X X X
....minate in Form B annexed to this notification (TB-4) or as near thereto as may be, one or more persons who shall be entitled to the bond and the payment thereon in the event of his death. (ii) Where any amount is payable to two or more nominees and either or any of them dies before such payment becomes due, the title to the bond shall vest in the surviving nominee or nominees and the amount being due thereon shall be paid accordingly. In the event of the nominee or nominees predeceasing the holder, the holder may make a fresh nomination. (iii) No nomination shall be made in respect of the Bonds issued in the name of a minor. (iv) A nomination made by a holder of a bond may be varied by a fresh nomination in Form B or as near thereto as may be, or may be cancelled by giving notice in writing to the Receiving office in Form C annexed to the notification (TB-5). (v) Every nomination and every cancellation or variation shall be registered at the Receiving Office where the bond is issued and shall be effective from the date of such registration. (vi) If the nominee is a minor, the holder of a bond may appoint any person to receive the ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rms and conditions laid down in Government of India Notification No. F.4(10) W&M/2003 dated 21st March, 2003. Name of the Receiving Office Branch Code No. Official Seal. 1. (Name.............) 2.(Name..............) Designation Designation Nomination Registered at Sl. No. Signature of the Head of the Receiving Office/the officer next to him. Note : This certificate is non-negotiable. Details of Bonds held in the Bond Ledger Account Sl. No. Investment Transfer Due Date of Repayment* Repayment Balance Initials under bank's seal Date Amount Date Amount Date Amount 1 2 3 4 5 6 7 8 9 10 ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....... Being the subscription to 8% Savings (Taxable) Bonds, 2003 amount of subscription Rs............ (Rupees......................................................................................) Paid by [ ] Cash [ ] Cheque [ ] D.D. No.....................Dated...................... Drawn on...................................................... (Bank/Branch) I/We apply as [ ] Individual [ ] on behalf of minor *Karta of huf [ ] *Charitable institution [ ] *University [ ] Relationship with minor [ ] Father [ ] Mother [ ] Legal Guardian Mode of Holding :- [ ] Single [ ] Joint [ ] Anyone or Survivor Status [ ] Resident [ ] Minor Broker's Name : Code No. : Address : For office use only Brokerage paid Rs. Application No. Dated Date of debit of Drawee Bank ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....; Date of birth (in case of minor) D M Y &nbs....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Permanent account number First Applicant Second Applicant Third Applicant ........................................................................................................................... Signature/Thumb Impression of 1st Applicant †Signature Name and Address of witness (1) ..................................................................... Signature/Thumb impression of 2nd Applicant (2) ..................................................................... Signature/Thumb impression of 3rd Applicant Note : @Interest on Bonds in the form of Bond Ledger Account by credit to the bank account to the holder or by cheque/warrant. †In case of thumb impression. HUF Declaration Form (Refer to Annexure 2 - Form A (See para 9) (Only if a....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... on behalf of a minor by the legal guardian, a guardianship certificate granted by a competent court under the provisions of Guardians and Wards Act (Act of 1890) should be produced. 4. In case of minor applicant, a birth certificate issued by the Municipal or other competent authority, church, Registrar of Birth/s or a Magistrate, Head of a Gram Panchayat or Head Master of a School - disclosing the name and the date of birth of the minor should be produced in original (along with one xerox copy) for verification. 5. The application shall bear the signature/thumb impression of the applicant/s. The thumb mark should be witnessed by 2 respectable persons. 6. If the application is signed by a person other than the investor, a Power of Attorney authorising the signatory should be submitted along with the application. The P.O.A. should contain express provision to receive interest and the principal amount due under the Bonds and/or to negotiate or transfer the Bonds. The P.O.A. should also be unconditional. In case the P.O.A. is executed abroad, it should be attested by a Notary Public of the place where it is executed and notarised afresh in India (duly stamped). 7. The Kar....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... on the cumulative bonds and credited to Government Account. 14. The bond is repayable after a period of six years from the date of issue. 15. Applications for Bonds in the form of Bond Ledger Account will be received at branches of State Bank of India, Associate Banks and Nationalized Banks, four private sector banks and SHCIL specified in the Annexure 3 of the Government Notification. 16. Brokerage at the rate of Rs. 1.00 (Rupee one only) per Rs. 100 will be paid to the brokers listed in Para 10(a) and (b) and to PPF and UTI Agents enrolled with them as also to authorised banks on the applications tendered by them on behalf of their clients and bearing their stamp. 17. The Bonds shall not be tradable in secondary market and not eligible as collateral for loan from banks, financial institutions and NBFC, etc. Annexure 3 List of Banks handling 8% Savings (Taxable) Bonds, 2003 Work Name of the Bank No. of Branches 1. State Bank of India 285 2. State Bank of Bikaner & Jaipur 30 3. State Bank of Hyderabad 23 4. State Bank of Indore 7 5. State Bank of Mysore 34 6. State Bank of Saurashtra 7 7. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... $As ........ the sole nominee above is a minor on this date, I appoint Shri/Smt./Kum. ............... to receive the amount for the time being due on the above bond in the event of my death during the minority of the said nominee. $$ ............. †The nomination is in substitution of the nomination dated ......... made by me and registered on your books at ........ which shall stand cancelled on registration of this nomination. @To be filled in by the bank opening the account. ................................................................................... (Signature/....