[www.keralites.net] 8% Savings (Taxable) Bonds, 2003 – Premature Encashment

 

8% Savings (Taxable) Bonds, 2003 – Premature Encashment

The captioned bonds, issued with effect from April 21, 2003, vide Government of India Notification No. F 4(10)-W&M/2003 dated March 21, 2003 and subsequent Notification F. No. 4(10)-W&M/2003 dated April 2, 2003, are repayable on the expiry of six years from the date of issue. Premature encashment was not permissible under this scheme.

2. The Government of India has now vide Notifications dated July 29, 2013 and August 16, 2013 (copies enclosed), decided to provide the facility of premature encashment of these bonds to individual investors in the age group of sixty years and above, after a minimum lock-in period of three years from the date of issue as indicated below:

Best Regards

Prakash Nair

Certified Personal Financial Advisor(CPFA)

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