Key Features of GOI Bonds are as follows :
|Maturity Period||6 years|
|Rate of Interest||8.0% per annum (Taxable)|
|Risk Attached||Low Risk|
|Minimum Investment||Rs. 1,000/-|
|Maximum Investment||Unlimited in multiples of Rs.1,000/-|
|Overall Liquidity||Not tradable|
|Date of Issue||Date of realization of the funds|
Payment of Interest:
Non-cumulative (half yearly): Interest to the holders opting for non-cumulative bonds will be paid from date of issue up to 31st July/31st January as the case may be and thereafter half yearly for period ending 30th June /31st December on 1st August and 1st February.
Cumulative: Interest at the rate of 8% per annum compounded with half yearly rests and will be paid to the investor on maturity along with principal. (the maturity value of the bonds shall be Rs 1601.00/- for every Rs1000/-) (subject to TDS as applicable).
Interest on the Bond will be taxable under Income-Tax Act,1961.
The bonds will be exempt from Wealth-Tax under the Wealth-Tax Act, 1957.
The main features of these bonds are as follows:
As an individual:
Who is not a Non-resident Indian
In his or her individual capacity or
On joint basis, or
Anyone or survivor basis, or
On behalf of a minor as father/mother/legal guardian.
As a Hindu Undivided Family
As an Institution:
Charitable Insititution' under section 25 of the Indian Companies Act 1956.
Institution obtained Certificate Of Registration as charitable institution.
Any Institution which obtained certificate from Income Tax Authority U/S 80G of Income Tax Act, 1961.
"UNIVERSITY" established or incorporated by Central, State or Provincial Act, U/S 3 of University Grants Commission Act, 1956 (3 of 1956) .