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LEMON FUNDZ: YOUR PERSONAL FINANCIAL ADVISOR
IPO RBI BONDS

Postal Schemes

Monthly Income Scheme
Who can open an account
Any individual can either singly or jointly open this account. It can also be opened by minor who has attained age of ten years.

How to make deposit
There shall be only one deposit in the account

Limit on Deposit
The minimum deposit required is Rs.6,000 and the maximum permissible deposit is Rs.3,00,000 for a single account and Rs.6,00,000 for a joint account.

Return on investment
8% p.a. payable monthly.

Tenure
The tenure of account is 6 years

Premature Withdrawal
The amount deposited can be withdrawn after 3 years. If the amount is withdrawn before 3 years then 5% of the amount deposited shall be deducted.

Tax liability
The interest qualifies for deduction under section 80L up to a maximum limit of Rs.9,000. No TDS is deducted from interest. The wealth tax exemption is available. The bonus also qualifies for deduction under section 80L.

Nominations

Nomination facility is available.


NATIONAL SAVING CERFICATE


How to Invest
Lump sum payment to be made at the time of investment. The certificates are issued in the denomination of Rs.100, Rs.500, Rs.1,000, Rs.5,000, Rs.10,000 and other denominations as may be notified by the Central Government.

Limit on investment
Minimum investment required is Rs.100. There is no limit on maximum investment.

Period of investment
6 years.

Return on investment
The rate of interest is 8% p.a. compounded half-yearly, payable on maturity. Rs.100 invested becomes Rs.160.10 at maturity.

Premature encashment
Premature encashment can be done only in following circumstances :
- On the death of holder or any of joint holder
- On forfeiture, by a pledge being a Gazetted Government Officer
- When ordered by court of law.

Place of encashment
The certificate shall be encashable at the Post Office at which it stands registered. These can be encashed anywhere in India by getting the same transfered free of cost.
For transfer request form click here

Who can purchase
Any individual can either singly or jointly minors and trusts.

Nomination facility
Nomination facility is available.

Tax benefits
The investment amount qualifies for deduction under section 88 of the Income Tax Act. The interest accruing annually but deemed to be invested will also qualify for tax deduction under section 88 of Income Tax Act. The interest earned is also entitled to exemption under section 80L of Income Tax Act.

KISAN VIKAS PATRA

Limit of Investment
There is no limit on maximum investment.The minimum investment is Rs.100

Return on Investment
The investment doubles itself in 8years & 7months The Kisan vikas patras can be prematurely encashed at any time after 2 years and six months. For an investment of Rs. 1000/-, the returns are as per the chart given below :


 

Period from the date of issue of the Kisan vikas patras to date of its encashment

Amount payable inclusive of interest (in Rupees)

1. Two years & six months or more but less than three years.

1170.51

2. Three years or more but less than three years & six months.

1207.95

3. Three years & six months or more but less than four years.

1267.19

4. Four years or more but less than four years & six months.

1310.80

5. Four years & six months or more but less than five years.

1355.90

6. Five years or more but less than five yaers and six months.

1435.63

7. Five years & six months or more but less than six years.

1488.49

8. Six years or more but less than six years and six months.

1543.30

9. Six years & six months or more but less than Seven years and three months.

1649.13

10. Seven years or more but less than seven years 6 months

1713.82

11. Seven years six months or more but less than 8 years

1781.06

12. 8 years or more but less than 8 years 7 months

1850.93


Date of issue of certificate
Where investment is made by cash the date of issue of Kisan vikas patra will be the date of investment.Where the investment is made by cheque or draft the date of issue of Kisan vikas patra will be the date of realisation of cheque or draft.

Place of encashment
The Kisan vikas patras will be encashable at the Post Office of its issue or any where in India by getting the same transferred free of cost.

Who can purchase?
Any individual whether singly or jointly can purchase the Kisan vikas patras. K.V.P's can also be purchased in the name of minor.Trusts can also purchase.

Nomination facility
Nomination facility is available.

Tax Liability
The interest paid does not qualify for any tax concession. No TDS is deducted from interest.

Monthly Income Scheme

Who can open an account
Any individual can either singly or jointly open this account. It can also be opened by minor who has attained age of ten years.

How to make deposit
There shall be only one deposit in the account

Limit on Deposit
The minimum deposit required is Rs.6,000 and the maximum permissible deposit is Rs.3,00,000 for a single account and Rs.6,00,000 for a joint account.

Return on investment
8% p.a. payable monthly.

Tenure
The tenure of account is 6 years

Premature Withdrawal
The amount deposited can be withdrawn after 3 years. If the amount is withdrawn before 3 years then 5% of the amount deposited shall be deducted.

Tax liability
The interest qualifies for deduction under section 80L upto a maximum limit of Rs.9,000. No TDS is deducted from interest.The wealth tax exemption is available. The bonus also qualifies for deduction under section 80L.

Nominations
Nomination facility is available.
 

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RBI Relief Bonds 2003

6.5 Savings Bonds, 2003 (Tax Free)

Eligibility Of Investment

The bonds may be held by:-
(i) An individual, not being a Non-Resident India
a) in his or her individual capacity or
b) in individual capacity on joint basis, or
c) in individual capacity on anyone or survivor basis or
d) on behalf of a minor as father/mother/legal
guardian

(ii) A Hindu Undivided family

Limit of investment
There will be no maximum limit of investment in the bonds

Tax Concession
The interest on the bonds will be exempt from income-tax under the Income Tax Act, 1961.
The bonds will be exempt from Wealth-tax under the Wealth Tax Act 1957.

Issue Price
a) The bonds will be issued at par
b) The bonds will be issued for a minimum amount of Rs. 1000/- (face value) and in multiplies thereof. Accordingly, the issue price will be Rs. 1000/- for every 1,000/- (Nominal)

Interest Payments
Half yearly options: Interest will be paid on 1st January / 1st July.
On Maturity: Compounded with half yearly rates and will be payable on maturity along with principal maturity value will be Rs 1,376.90 (being principal and interest) for every Rs 1,000/- invested.

Subscription
Subscription to the bonds will be in the form of Cash/Drafts/ Cheques.

Transferability
The bonds in the form of Bond Ledger Account and Stock Certificate shall not be transferable except by way of gift to a relative defined in the section of the Indian Companies Act, 1956, by execution of appropriate Transfer Form as given in Annexure 6A and 6B (as may be applicable) and an execution of an affidavit by the holder.

Advances
The Bonds shall not be tradable in the secondary market shall not be eligible as collateral for loans from banks, financial institutions and Non-Banking Financial Company (NBFC) etc.

Repayment
The Bonds shall be repayable on the expiration of 5 (five years) from the date of issue. No interest would accrue after the maturity of the bond.

Provision for Premature Encashment
After minimum lock in period of 3 years from the date of issue, an investor can surrender the Bonds at any time after the 6th half year but redemption payment will be made on the following interest payment due date (as indicated below). Thus the effective date of premature encashment will be 1st July and 1st January every year. However 50% of the interest due and payable for the last six months of the holding period will be recovered in such cases both in respect of cumulative and Non-cumulative Bonds.

8 % RBI BONDS (Taxable)

1. Eligibility for Investment:
The Bonds may be held by -
(i) an individual, not being a Non-Resident Indian -
(a) in his or her individual capacity, or
(b) in individual capacity on joint basis, or
(c) in individual capacity on anyone or survivor basis, or
(d) on behalf of a minor as father/mother/legal guardian
(ii) a Hindu Undivided Family.
(iii) (a)'Charitable Institution' to mean a Company registered under Section 25 of the Indian Companies Act 1956 or
(b) an institution which has obtained a Certificate of Registration as a charitable institution in accordance with a law in force; or
(c) any institution which has obtained a certificate from Income Tax Authority for the purposes of Section 80G of the Income Tax Act, 1961.
(iv) "University" means a university established or incorporated by a Central, State or Provincial Act, and includes an institution declared under section 3 of the University Grants Commission Act, 1956 (3 of 1956), to be a university for the purposes of that Act.

2. Limit of Investment:
There will be no maximum limit for investment in the Bonds.

3. Tax Treatment:
(i) Income-tax: Interest on the Bonds will be taxable under the Income-Tax Act, 1961 as applicable according to the relevant tax status of the bond holder.
(ii) Wealth tax: The Bonds will be exempt from Wealth-tax under the Wealth- tax Act, 1957.

4. Issue Price
(i) The Bonds will be issued at par i.e. at Rs.100.00 percent.
(ii) The Bonds will be issued for a minimum amount of Rs. 1000/- (face value) and in multiples thereof. Accordingly, the issue price will be Rs.1000/- for every Rs.1,000/-(Nominal).

5. Subscription
Subscription to the Bonds will be in the form of Cash/Drafts/Cheques. Cheques or drafts should be drawn in favour of the Receiving Office, specified in paragraph 10 below and payable at the place where the applications are tendered.

6. Date of Issue
(i) The Bonds will be issued with effect from 21st April 2003 and will remain on tap till further notice.
(ii) The date of issue of the Bonds in the form of Bond Ledger Account will be the date of receipt of subscription in cash or the date of realisation of draft/cheque.

7. Form
(i) The Bonds will be issued and held at the credit of the holder in an account called Bond Ledger Account (BLA).
(ii) New Bond Ledger series with the prefix (TB) are to be opened. All investment in 8% Savings (Taxable) Bonds by an existing BLA holder will be viewed as a new investment under a new BLA.
(iii) The Bonds in the form of Bond Ledger Account will be issued by and held with designated branches of the agency banks and SHCIL as authorised by Reserve Bank of India in terms of paragraph 10 below.(iv) The Certificate of Holding in respect of Bond Ledger Account will be issued in Form TBX or Form TBY as applicable for non-cumulative and cumulative investments respectively.
(v) The Certificate of Holding in respect of cash applications may be issued on the same day as per the extant instructions.

8. Nomination
A sole holder or a sole surviving holder of a Bond, being an individual, may nominate in form B (Annex - 4) or as near thereto as may be, one or more persons who shall be entitled to the Bond and the payment thereon in the event of his/her death.

9. Transferability
The Bond in the form of Bond Ledger Account shall not be transferable.

10. Interest
(i) The bond will be issued in cumulative and non-cumulative form, at the option of the investor.
(ii) The Bond will bear interest at the rate of 8% per annum. Interest on non-cumulative bonds will be payable at half-yearly intervals from the date of issue in terms of paragraph 7 above. Interest on cumulative bonds will be compounded with half-yearly rests and will be payable on maturity along with the principal. In the latter case, the maturity value of the Bonds shall be Rs.1601/- (being principal and interest) for every Rs.1,000/-(Nominal). Interest to the holders opting for non-cumulative Bonds will be paid from date of issue in terms of paragraph 7 above upto 31st July/31st January, as the case may be and thereafter at half-yearly for period ending 31st July/31st January on 1st August and 1st February.
Interest on Bond in the form of "Bond Ledger Account" will be paid, by cheque/warrant or through ECS by credit to bank account of the holder as per the option exercised by the investor/holder.

11. Advances/Tradeability against Bonds
The Bonds shall not be tradeable in the secondary market and shall not be eligible as collateral for loans from banks, financial Institutions and Non Banking Financial Companies, (NBFC) etc.15. Repayment
The Bonds shall be repayable on the expiry of 6 (Six) years from the date of issue. No interest would accrue after the maturity of the Bond.
 

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IPO

IPO stands for Initial Public Offer where there is an invitation by the company to the public to subscribe to the securities offered through a prospectus. In other words, the general public can participate in the shareholdings of the company?s share.Securities and Exchange Board Of India (SEBI) is the nodal authority for all capital market activities including public issues. All companies wishing to come out with an IPO has to file the draft offer document with SEBI through a merchant banker.
A. Public constitutes of both institutional and non institutional investors.
Institutional investors constitutes of:
A Foreign institutional investors (FII?S)
B Mutual funds (MF?S)
C Public sector banks
D Private sector banks
E Domestics institutions (FI?S)
F OCB?s
G Corporates

Non-Institutional constitutes of:
A Inddian and NRI Investors

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FIXED DEPSOITS

Fixed deposits are normally unsecured loans issued by corporates, banks ,financial institutions and others.

The companies to fund their short term requirements or other financial requirements borrows from the general public and provides a better rate than the banks.
The company enters into a contract with the depositor, wherein the company has an
obligation to pay the interest payment & principal at a pre-determined time & at a pre- specified rate

The main difference between a fixed deposit and a bond is, the bonds are transferable instruments whereas fixed deposits are non transferable. Hence apart from interest earnings fixed deposits cannot offer capital appreciation as the same can be surrendered only to the issuer before its maturity.

In case of a premature withdrawal by the depositor, the depositor gets his capital back at a 1% lesser rate than the contracted rate. The premature withdrawal is only possible after a minimum holding of six months. The company fixed deposits in India are governed by the company law board and the Reserve Bank of India

 

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