Sovereign Gold Bond 2024 Allotment Status, SGB 2024 Allotment: The interest is paid at a fixed rate of 2.50 per cent per annum and is fully taxable.
Sovereign Gold Bond 2024 Allotment Status, SGB 2024 Allotment: Those who applied for Sovereign Gold Bond 2024 Series IV are now waiting for the allotment. According to the information available, the allotment is expected to take place today i.e. February 21.
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Sovereign Gold Bond 2024 Allotment – Here’s how to check the status of your online purchase
Those who purchased SGBs online using a demat account can check the status by visiting the ‘portfolio’ or ‘holding’ section. Under this section, investors can visit the SGB or Sovereign Gold Bonds category and check the status.
Sovereign Gold Bond 2024 Allotment – Here’s how to check status for offline purchase
If you have purchased SGBs offline, you can collect the certificate from your bank of post offices.
Irrespective of the mode of purchase, you must keep a check for email confirmation. Also, those who will get the SGB will receive a digital copy of the certificate from the Reserve Bank of India. This will be sent to the email address mentioned in the application form.
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Sovereign Gold Bond Scheme Interest and Taxation
The Sovereign Gold Bond Scheme has a tenor of eight years. However, there is an option for premature redemption after the fifth year.
The interest is paid at a fixed rate of 2.50 per cent per annum and is fully taxable. However, the profits earned on redemption are fully tax-free.
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Sovereign Gold Bond Calculator
Here’s how the interest is calculated on Sovereign Gold Bonds or SGB.
If the price of one unit of SGB is Rs 6,000 and the rate of interest is 2.5 per cent, the interest on this will be Rs 150. The important thing to note is that this amount will be paid semi-annually. Over a period of eight years, an investor will earn an interest of Rs 1,200.
Rs 150 per year x 8 years = Rs 1,200.
Upon maturity, buyers will receive the value of gold at current market prices, and the interest income, all of which is tax-free.
