Sovereign Gold Bonds Scheme 2023-24 Series 4:- The Reserve Bank of India issues official gold bonds on behalf of the Government of India. Today is the first day customers can register for the upcoming tranche of Sovereign Gold Bonds. On January 12, 2024, subscriptions for the last Series IV of Sovereign Gold Bonds (SGB) 2023–24 will be accepted until January 16, 2024.
Sovereign Gold Bond Scheme 2023-24 Series 4 opens for subscription
Online discounts are available for subscribers to the Sovereign Gold Bond Scheme.
The RBI stated that investors who apply online and pay online will receive a discount of ₹50 per gram, making the issue price of ₹6,213 after the reduction. Several outlets, including as stock exchanges, post offices, and scheduled commercial banks, will sell the Sovereign Gold Bonds.
Sovereign Gold Bond Scheme 2023-24 Series 4 Details in Highlights
| About | Sovereign Gold Bond Scheme 2023-24 Series 4 |
| Issued by | The Reserve Bank of India |
| Opens on | 12th February,2024 |
| Last Date | 16th February,2024 |
| Mode | online |
The price of 999 pure (24k) gold, as reported by the India Bullion and Jewellers Association (IBJA), is correlated with SGB prices. When gold prices rise, investors can readily sell their gold bonds on the secondary market since they are liquid assets.
Sovereign Gold Bond Scheme 2023-24 Series 4 Price
Subscriptions for the Sovereign Gold Bond (SGB) 2023–24, or Series IV, are now being accepted from today, February 12 at ₹6,263 per gram. The government has also declared that online applicants for Sovereign Gold Bonds will receive a little discount.
Eligibility for Exemption?
Whether you purchased the SGB via a secondary market or as an initial subscriber, you are still eligible for the exemption. Other businesses that are permitted to invest in SGB are not eligible for this redemption exception, this is exclusively open to individuals.
If the bonds are transferred or sold, the proceeds from the sale are subject to full long-term or short-term taxation, depending on the length of the holding period.
You also have the option to index capital gains or pay a flat tax of 10% of earnings instead. You can also claim an exemption under Section 54F for such long-term capital gains by investing the earnings in a residential property within the allowed time. “SGB has a 12-month holding period to create their long-term capital assets. When calculating the taxable long-term capital gains, you are eligible to claim the indexation advantage if the asset is sold or transferred after a year.
Issue Price of SGB 2023-24 Series IV
The SGB 2023–24 Series IV has an issue price of Rs 6,263. The issue price would be Rs 6,213 after deducting Rs 50 for online payments.
The bond’s nominal value, which is determined by taking the simple average of the closing price for gold of 999 purity from the last three working days of the week before the subscription period (February 07, February 08, and February 09, 2024) and publishing it by the India Bullion and Jewellers Association Ltd (IBJA), comes to Rs 6,263/- (Rupees Six thousand two hundred and sixty-three only) per gram of gold.
After consulting with the Reserve Bank, the Indian government has agreed to give investors who apply online and pay for their applications online a discount of Rs 50/-per gram above the nominal amount. According to a news statement from the RBI “For these investors, the issue price of Gold Bond will be Rs 6,213/- (Rupees Six thousand two hundred and thirteen only) per gram of gold.”
FaQ
Q.How much is the interest rate on Sovereign Gold Bonds?
Ans.For the present series, the investor receives a set interest rate of 2.5 percent per year, payable semi-annually on the nominal value. The fixed interest generated is unaffected by Gold Bonds’ capital growth.
Q.How much is the Sovereign Gold Bond discount available?
Ans.Investors who register online and make payments using digital methods can receive a discount of Rs 50 from the Reserve Bank of India (RBI). As a result, these investors would pay Rs 6,213 per unit, or one gram of gold, as the issuance price of the gold bonds.
Q.What is Sovereign Gold Bond?
Ans.The bond will have an eight-year tenor, with an exit option in the fifth year that can be used on the dates of interest payments. Under the GS Act of 2006, the Government of India Stocks would be used to issue the Gold Bonds. For the same, a Holding Certificate will be given to the investors. It is possible to convert the Bonds into demat form.
Sovereign Gold Bond Scheme | Sovereign Gold Bond Scheme 2023-24 Series 4 opens for subscription today 12th feb brothers, if you are liked given with the information then plz like and share so that other farmer brothers can also be helped
