These bonds are specifically meant for people who have made some long-term capital gains, and would like to save capital gain taxes on this amount. Resident individuals, HUFs, partnerships, companies, banks, financial institutions, regional rural banks, co-operative banks, insurance companies, provident funds, super annuation funds, gratuity funds, mutual funds, FIIs, trusts authorized to invest bonds, NRIs investing out of NRO account on non repatriable basis can invest in these bonds. So, everyone except your Pomeranian can invest in these bonds.
REC (Rural Electrification Corporation) is issuing these bonds, and from the current information present on their website I see that they will be issuing these bonds till March 31st 2011.
Yes, the interest from these bonds is fully taxable, and there is no exemption on that. TDS is however not charged on them
Currently, both REC and NHAI are offering 6% interest on their bonds
The lock in period of these bonds is 3 years, so you can’t sell them before the 3 years.
Just a Call to our office or email, our representative would attend you.
No, you don’t necessarily need a demat account for them because the bonds are issued in paper as well as demat form
