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SGBs redemption 2024: The Reserve Financial institution of India (RBI) yearly points Sovereign Gold Bond (SGB) tranches, outlining their issuance and redemption dates. These bonds have an eight-year tenor however permit untimely redemption after 5 years from the date of difficulty. Based on ET, a number of SGBs from the 2016 sequence are up for ultimate redemption in 2024. Listed below are the tentative dates and particulars:Sovereign Gold Bonds 2016-IIt is an 8-year bond that matured on February 8, 2024.Initially priced at Rs 2600 per gram, the ultimate redemption quantity is Rs 6,271 for every SGB unit.Sovereign Gold Bonds 2016-IIAs per the RBI notification dated March 22, 2024, the ultimate redemption date for Sovereign Gold Bonds 2016-II is about for March 28, 2024 (March 29 being a vacation). The redemption quantity due on March 28, 2024, is Rs 6601 for every SGB unit.Sovereign Gold Bond 2016-17 – Collection IThe Sovereign Gold Bond 2016-17 – Collection was issued at Rs 3,119 on August 5, 2016. Therefore, the tentative ultimate redemption date falls within the first week of August 2024. These bonds carry an annual rate of interest of two.75 %, paid semi-annually, with the final installment due together with the principal at maturity.Sovereign Gold Bonds 2016-17 Collection-IIThe Sovereign Gold Bonds 2016-17 – Collection II have been open for subscription from September 1 to September 9, 2016. Initially scheduled for launch on September 23, 2016, they have been later rescheduled to September 30, 2016, with a problem value of Rs 3,150. The tentative redemption date is about for the final week of September 2024. These bonds carry an annual rate of interest of two.75 %, paid semi-annually, with the ultimate installment due together with the principal at maturity. Redemption for this tranche is anticipated to happen in September 2024.ALSO READ | Sovereign Gold Bonds Scheme 2023-24 Collection IV subscription: Utilized on-line or offline? Right here’s the best way to verify allotment detailsSovereign Gold Bonds 2016-17 – Collection IIIApplications for the bond have been accepted from October 24 to November 2, 2016, and the bonds have been issued on November 17, 2016, at an issuance value of Rs 3007 per gram. The ultimate redemption date is anticipated to be round November 17, 2024. Traders will obtain compensation at a set fee of two.50 % each year, paid semi-annually on the nominal worth.Necessary noteIt is essential to notice that the ultimate redemption date could range relying on financial institution working days and different components. The RBI will ship notifications through e mail and SMS to SGB buyers one month earlier than the redemption date.Calculation of redemption priceThe redemption value shall be in Indian Rupees, decided by the earlier week’s (Monday-Friday) easy common of the closing value of gold of 999 purity revealed by IBJA.Willpower of difficulty priceThe value of the bond shall be set in Indian Rupees primarily based on the straightforward common of the closing value of gold of 999 purity revealed by the India Bullion and Jewellers Affiliation Restricted for the week (Monday to Friday) previous the subscription interval. The problem value of the Gold bonds shall be Rs 50 per gram lower than the nominal worth.Tax treatmentThe curiosity earned on Gold Bonds is topic to taxation underneath the provisions of the Revenue Tax Act, 1961 (43 of 1961). Nevertheless, the capital good points tax arising from the redemption of SGB by people has been exempted. Indexation advantages shall be offered for long-term capital good points arising from the switch of bonds to any particular person.

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