Those who are applying for subscribing this gold bond scheme via online modes will get a discount of Rs 50 per gram less than the nominal value as decided by the government in consultation with the apex bank.
The price of gold bond is determined on the basis of simple average of closing price of gold of 999 purity, published by the Indian Bullion and Jewellers Association Limited for the last three working days of the week preceding the subscription period.
Any resident of India, Hindu undivided families, trusts, universities and charitable institutions are eligible to invest in the sovereign gold bond scheme.
The maximum limit of subscription is 4 kg for individuals, 4 kg for HUFs and 20 kg for trusts and similar entities per fiscal .
But in the case of Sovereign gold bonds no capital gains tax is applicable if held till maturity.
Otherwise, the investor does not lose in terms of unit of gold which he has paid for.
Yes, even applying via online modes is being incentivised by the government.
After getting in touch with the receiving official and verification, the title of the bond will pass to the person fulfilling the criteria not necessarily to the natural guardian.