Sovereign Gold Bond scheme

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Sovereign gold bond scheme is back

Here's a primer on India's Sovereign Gold Bonds. The latest issue comes with some significant changes

Subscription is open from October 9th to 11th, 2017. It will be open from Monday to Wednesday every week until December 27th. The bonds will be issued on the first business day of the succeeding week

Where to buy Sovereign Gold Bond
Banks, Post Offices, Stock Exchanges (NSE and BSE). You can also buy them online through the websites of these agencies. Online purchases carry a discount of Rs 50 per gram (this works out to about 1.6% as today's prices).

Price
Average of the last three business days' price as fixed by the India Bullion and Jewellers Association Ltd.

Minimum Investment: One gram

Maximum Investment: 4 kg per annum (20kg for trusts). In rupee terms, this comes to about 1.2 crore. The previous limit was 500 gm.

Interest rate: 2.5% per annum

Tenure
8 years. You can prematurely encash them after 5 years or sell them on a stock exchange.

Redemption value
Based on the price of gold of 999 purity on the three business days prior to the redemption date

Taxation
The interest paid on these bonds is fully taxable. TDS is not deducted on them. The capital gains on redemption are exempt from tax. If sold before redemption, the benefit of indexation on long term capital gains is available.

Allotment
If you submit a valid application, you will get your allotment. There is no supply restriction here.

How to hold
You can hold them through certificates of holding. You can collect these from the selling agent eg: your bank. Alternatively you can hold them in demat form in your demat account.

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