Interests on various Bank/Corporate Fixed deposits have fallen. In this scenario, GOI 8% Savings (Taxable) Bonds 2003 is gaining prominence again, as these Bonds are being issued by Reserve Bank of India (RBI) provide safety plus returns that are fixed and assured.
| Who can invest | Individual (Sole/Joint basis/Guardian on behalf of minor) HUF University (80G certificate compulsory) Charitable Institution (80G certificate compulsory) |
| Limit of investment | Minimum Rs. 1000/- and in multiples of Rs.1000/-. No maximum limit |
| Date of Issue of bonds | Date of realization of cheque |
| Forms of Bonds | Bond Ledger Account |
| Interest Option | Non-cumulative / Cumulative. Change of option is not permitted once investment is done |
| Payment of Interest | In case of non -cumulative option, interest is payable on half yearly basis (1st Feb/1st Aug). In case of Cumulative option, interest is compounded with half yearly rest and is payable at the time of maturity |
| Tax benefits | Income from the bonds is taxable. Wealth tax is exempted. Tax will be deducted at source while interest is paid |
| Maturity period | After 6 years |
| Nomination | Nomination of one or more persons is allowed |
| KYC Documents Required | Individuals: Self attested copies of PAN, address proof and cancelled cheque leaf |
| HUF: Self attested copies of PAN, address proof of HUF and Kartha and cancelled cheque leaf | |
| Charitable trust/Universities: Registered trust deed/registration certificate, board resolution, list of authorized signatories, PAN and address proof of institution and authorized signatories. Valid 80G Certificate |
| RBI has authorized few public and private sector banks to collect investments under this scheme. HDFC Bank Ltd & ICICI Bank Ltd are among the banks authorized for this purpose and we have tied-up with both these bankers for marketing this product. | |
| The process and lodgement logistics are as given below: | |
| 1) For investment in GOI Bonds through HDFC Bank, the cheque should be drawn in favour of 'HDFC Bank - GOI 8% Savings (Taxable) Bonds 2003'. | |
| 2) For investment in GOI bonds through ICICI Bank, the cheque should be drawn in favour of 'ICICI Bank - GOI 8% Savings (Taxable) Bonds 2003'. |
Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds
Top 4 Tax Saver Mutual Funds for 2017 - 2018
Best 4 ELSS Mutual Funds to invest in India for 2017
1. DSP BlackRock Tax Saver Fund
2. Invesco India Tax Plan
3. Tata India Tax Savings Fund
4. BNP Paribas Long Term Equity Fund
Invest in Best Performing 2017 Tax Saver Mutual Funds Online
Invest Best Tax Saver Mutual Funds Online
Download Top Tax Saver Mutual Funds Application Forms
For further information contact SaveTaxGet Rich on 94 8300 8300
Leave your comment with mail ID and we will answer them
OR
You can write to us at
Invest [at] SaveTaxGetRich [dot] Com
OR
Call us on 94 8300 8300
