Fixed Income
Sovereign Gold Bonds: No Capital Gains Tax with a Caveat
The Reserve Bank of India (RBI) had fixed the issue price of sovereign gold bonds (SGB) at Rs3,119 per gram (gm) for the fourth tranche of subscription (from 18 July to 22 July 2016). It was the first offering in the current financial year. To make the scheme attractive, capital gains tax arising on redemption of SGB to an individual has been exempted. So, any increase in the gold price...
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Be Wary of Investing in FMPs
Fixed maturity plans (FMPs) were a good product to buy in March 2013 when you could get double indexation benefit, if you held them for at least 13 months, especially in a situation of stable or falling interest rates. However, the Union Budget of FY14-15 made them unattractive. Now, you will get the indexation benefit only if you hold the scheme for 36 months. That is too long a period to...
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Should You Go for Taxable Bonds?
Edelweiss Housing Finance’s public issue of secured redeemable non-convertible debentures (NCDs) worth Rs500 crore opened on 8th July and it closed on 12th July, on over-subscription. The allotment is on a ‘first-come-first-served’ basis. It offers attractive interest rates of up to 10% for 10 years, 9.75% for five years and 9.50% for three years. The rating is CARE AA, ICRA AA and BWR AA+...
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