RBI Tax saving bond is also called Wealth tax. A wealth tax is a tax on an entity’s holdings of assets. It can purchased through:- https://rbi.org.in/home.aspx
This includes the total value of;
- Personal assets including cash.
- Bank deposits.
- Real estate.
- Assets in insurance.
- Pension plans.
- Ownership of unincorporated businesses.
- Financial securities, and personal trusts.
The Bonds will be exempt from wealth tax under the Wealthtax Act, of 1957. The Bonds will be issued at par i.e. at Rs. 100.00 per cent.
What are the Advantages and Benefits of RBI Tax saving bonds?
- There is no maximum limit on Investment.
- It is suitable for lump sum investments.
- Bond tenure is 7 years.
- Tax Saving by utilizing exceptions.
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