With the RBI press release on 15th December 2023, the SGB announcement for the December 2023 tranche of the Sovereign Gold Bonds timelines are now out.
Details of the SGB- December 2023
Issue Details
Amount
Issue Price
₹6,149 per gram (if online mode), OR ₹6,199 per gram (if offline mode)
Issue Period
December 18 to December 22, 2023
Date of Allotment/Issuance
December 28, 2023
Eligibility
Individuals, HUFs, trusts, universities, and charitable institutions
Sovereign Gold Bonds (SGBs) are quite the fascinating financial instrument. Imagine blending the allure of gold, the stability of government backing, and the convenience of paperless investing. In September 2023, the Government of India is rolling out another series of SGBs, offering investors an enticing opportunity. In this article, we’ll dive into the details of SGBs, explore their features, and get you well-versed in the particulars of the September 2023 issue of SGB.
Understanding Sovereign Gold Bonds
SGBs are a relatively modern financial innovation. They made their debut in 2015, courtesy of the Government of India. The basic premise? These bonds are like a digital manifestation of gold. They’re issued by the Reserve Bank of India (RBI) on behalf of the government, and they’re denominated in grams of the precious metal. Investors, thus, gain exposure to gold’s price movements without the hassles of securing and storing physical gold.
Features of SGBs
Now, let’s take a closer look at what makes SGBs tick:
a. Tenure: SGBs have an eight-year maturity period, with a unique feature – you can exit after the fifth year. It’s a marriage of long-term commitment and flexibility.
b. Liquidity: What’s better than an investment that you can liquidate easily? SGBs are listed on stock exchanges, making it a cinch to sell them before maturity if the need arises.
c. Interest: SGBs offer an attractive fixed interest rate, currently set at 2.50% per annum, paid out semi-annually. It’s like gold with a bonus.
d. Tax Benefits: Here’s a golden nugget – capital gains upon redemption are tax-free, making SGBs a tax-smart choice.
e. No Making Charges: Unlike your typical gold purchase, there are no pesky making charges with SGBs. Every gram counts.
f. Safety: As an instrument issued by the government, SGBs have an impenetrable shield of security around them.
Issue Details for SGB September 2023
Now, for the details that really matter:
Issue Details
Amount
Issue Price
₹5,873/- per gram (if online mode), OR ₹5,923/- per gram (if offline mode)
Issue Period
September 11-15, 2023
Date of Allotment
September 20, 2023
Eligibility
Individuals, HUFs, trusts, universities, and charitable institutions
Investing in SGBs is about as complex as a game of chess – which is to say, not complex at all:
a. Approach Financial Institutions: Head over to scheduled commercial banks, post offices, or recognized stock exchanges to get started. And most conveniently, you can apply for the Sovereign Gold Bonds through your broker (viz. Zerodha, Groww, HDFC Securities, ICICI Direct etc.)
b. Subscription Form: Fill out a simple subscription form, readily available at these authorized institutions.
c. Payment: Pay the required amount through cash, cheque, demand draft, electronic funds transfer, UPI, or online banking – it’s your choice.
d. KYC Documents: Don’t forget the paperwork; submit the essential Know Your Customer (KYC) documents as required.
e. Allotment: Voila! On the specified allotment date, your SGBs will magically appear in your demat account.
Benefits of Investing in SGBs
Here’s why SGBs are winning the hearts of investors:
a. Safety: As the name of the bond implies, there is a sovereign guarantee, and is backed by the mighty Government of India.
b. Earnings: Beyond the potential capital appreciation, investors receive regular interest payments – a cherry on top.
c. Liquidity: SGBs come with an exit door – they’re easily tradable on stock exchanges, offering liquidity at your fingertips.
d. Tax Benefits: Picture this – no capital gains tax if you hold onto your SGBs until maturity. It’s a tax-free treasure.
e. Diversification: With SGBs, you can sprinkle some golden diversification into your portfolio, mitigating risk like a pro.
Risks and Considerations
No investment is a smooth ride. Here are a few bumps on the SGB road:
While SGBs are relatively low-risk compared to physical gold, investors should consider factors like fluctuations in gold prices and the fixed interest rate. Early exit within five years may result in a capital loss. It’s essential to assess your investment horizon and goals before investing in SGBs.
Conclusion
Sovereign Gold Bonds for September 2023 are the best of both worlds – gold’s timeless allure and the security of government-backed bonds. Whether you’re a seasoned investor or just dipping your toes, SGBs offer a unique blend of glitter and stability, making them a valuable addition to your investment playbook.
In the ever-evolving world of finance, SGBs continue to shine as a bright spot, offering a path to diversification and wealth preservation. Consider them not just an investment but a golden opportunity to secure your financial future.
Hopefully, this article helps you with all the details needed to make your investment decision.
As per the recent announcement by the Reserve Bank of India (RBI), the Sovereign Gold Bond (SGB) scheme will be open for subscription from June 19th to June 23rd, 2023. This scheme allows investors to invest in gold without actually buying physical gold, which makes it an attractive investment option.
Details of the Sovereign Gold Bond Scheme
The SGB scheme is issued by the RBI on behalf of the Government of India. The bonds are denominated in grams of gold, and the price of one gram of gold is fixed by the government based on the prevailing market rates at the time of issuance. Investors can purchase these bonds from authorised banks and financial institutions or through the stock exchanges. The minimum investment in SGBs is one gram of gold, and the maximum is 4 kilograms for individuals and HUFs (Hindu Undivided Families) and 20 kilograms for trusts and other eligible entities.
SGB (Sovereign Gold Bonds) June 2023 Dates
What dates will the Sovereign Gold Bonds be available for application in June 2023?
The Sovereign Gold Bond Scheme 2023-24 – Series 01 (June 2023 SGB series) will be open for subscription from June 19, 2023 (Monday) to June 23, 2023 (Friday).
The detailed information on the Issue Details are as follows:
Issue Details of SGB June 2023 i.e. 2023-24 Series I Tranche
Issue Name
Sovereign Gold Bonds Scheme 2023-24 – Series 1 (Series I)
Security Symbol
SGB232401
ISIN
INxxxxxxxx
Issue Period
June 19, 2023 to June 23, 2023
Issue Price (per gram of gold)
Online Mode: ₹5,876 per gram | Offline Mode: ₹ 5,926 per gram
Minimum Quantity (in grams)
1 gram
Maximum Quantity (in grams)
For Individuals and HUF: 4000g (4kg). For Trusts, and similar entities: 20,000g (20kg)
Bid Quantity Multiples
You may apply in multiples of 01 gram, until the specified maximum quantities.
Rate of Interest
The Government of India has indicated that an interest of 2.50% per annum on the amount of initial investment will be paid to investor. The interest accrual shall commence from the date of issue, and is paid out every 6 months.
Date of Allotment
June 27, 2023 (Tuesday)
Date of Listing
TBC
Interest Rates and Tenure
The SGB scheme provides an interest rate of 2.5% per annum, payable semi-annually on the invested amount. This rate is significantly higher than the interest rates offered on other gold investments such as gold ETFs (Exchange-Traded Funds) and physical gold. The tenure of Sovereign Gold Bonds is eight years, with an option to exit after the fifth year. Investors can choose to redeem the bonds at any time after the fifth year, and the redemption price will be based on the prevailing market price of gold at the time of redemption.
Allotment Price
The allotment price of Sovereign Gold Bonds is based on the average closing price of gold of 999 purity of the last three business days of the previous week.
For the June 2023 tranche, the allotment price would be for ₹5,876 per gram (online mode), and ₹5,926 per gram (offline mode).
The allotment of bonds is made on a first-come, first-served basis, subject to the availability of bonds. The bonds are issued in a dematerialised form, which means that investors do not receive any physical certificates for their investment. Instead, they receive an electronic certificate in their demat account.
How to Apply for Sovereign Gold Bonds
Investors can apply for the SGB scheme through their banks or financial institutions. They need to fill in the application form and submit it along with the necessary documents and payment. The payment can be made through cash, cheque, demand draft or online transfer. The banks or financial institutions will then submit the application to the RBI on behalf of the investor. Investors can also apply for SGBs through the stock exchanges if they have a demat account.
Benefits of Investing in Sovereign Gold Bonds
Sovereign Gold Bonds offer several benefits to investors.
Firstly, they provide an opportunity for investors to invest in gold without actually buying the physical metal. This eliminates the need for storing, insuring, and transporting physical gold, which can be costly and risky.
Secondly, the interest rate offered by the government is significantly higher than other gold investments, which makes it an attractive investment option.
Thirdly, the exemption of capital gains tax on maturity provides a tax-efficient way of investing in gold.
Lastly, Sovereign Gold Bonds can be used as collateral for loans, providing investors with an additional source of funds.
Conclusion
The Sovereign Gold Bond scheme provides an excellent investment opportunity for individuals looking to invest in gold. The interest rate offered by the government, tax benefits, and the option to use the bonds as collateral for loans make them a compelling investment option. The June 2023 subscription window provides an opportunity for investors to invest in these bonds and diversify their portfolio. However, it is essential to consider factors such as market volatility and the prevailing gold prices before investing in SGBs. Overall, Sovereign Gold Bonds are an excellent investment option for individuals looking to invest in gold and diversify their portfolio.
Hopefully, this article helps you with all the details needed to make your investment decision.
The Indian government has introduced several measures to strengthen the financial system in the country. One such measure is the linking of PAN (Permanent Account Number) with Aadhaar. Aadhaar is a unique identification number issued by the Unique Identification Authority of India (UIDAI) to Indian citizens. PAN, on the other hand, is a ten-digit alphanumeric code issued by the Income Tax Department. Linking PAN with Aadhaar has become mandatory for all Indian citizens. In this article, we will discuss the significance of linking PAN with Aadhaar and the steps involved in the process.
In India, if you want to engage in financial transactions or file income tax returns, you need to have two important identification numbers – the Permanent Account Number (PAN) and the Aadhaar card.
The PAN is a 10-digit alphanumeric code issued by the Income Tax Department of India to individuals, companies, and firms. It serves as a unique identification number for taxation purposes and is mandatory for a variety of financial transactions, such as opening a bank account, buying or selling property, or investing in the stock market.
On the other hand, Aadhaar is a 12-digit unique identification number issued by the Unique Identification Authority of India (UIDAI) to every Indian resident. The Aadhaar card contains biometric and demographic information of the individual, including their name, date of birth, address, and fingerprints.
While the PAN is primarily used for taxation purposes, Aadhaar has a broader scope of usage. It is used for a range of purposes, including identity verification, government subsidies, and welfare schemes. Aadhaar is also used for mobile phone and bank account verification. The Indian government has made it mandatory to link PAN with Aadhaar, as it helps to weed out tax evaders and ensure a better compliance of tax laws. The government has set several deadlines for linking the two identification numbers, and failure to do so can result in a penalty.
However, the mandatory linking of PAN with Aadhaar has been a subject of controversy, with some individuals raising concerns about privacy and security issues. The collection and storage of biometric and demographic data of individuals has raised concerns about the misuse of personal data. Moreover, the process of linking PAN with Aadhaar has been a source of confusion for many individuals, with technical glitches and errors leading to delays and difficulties in linking the two identification numbers. To address these concerns, the government has made efforts to simplify the process and provide assistance to individuals facing difficulties.
Overall, while the mandatory linking of PAN with Aadhaar has raised some concerns, it is an important step towards ensuring better compliance of tax laws and curbing tax evasion. As such, it is important for individuals to understand the significance of both identification numbers and ensure timely linking to avoid penalties and difficulties in financial transactions.
Why Link PAN to Aadhaar?
When it comes to financial transactions in India, the Permanent Account Number (PAN) and Aadhaar are two of the most important identification documents. While PAN is used for tax-related transactions, Aadhaar is a unique identification number issued by the Unique Identification Authority of India (UIDAI) to every Indian citizen. In recent years, the government has made it mandatory for individuals to link their PAN with Aadhaar. In this article, we will explore the reasons why linking PAN to Aadhaar is important.
Firstly, linking PAN to Aadhaar helps to prevent tax evasion. By linking the two documents, the government can track an individual’s financial transactions and income more efficiently. This helps to identify individuals who may be underreporting their income or engaging in tax evasion. It is estimated that linking PAN to Aadhaar has led to an increase in the number of people filing their tax returns, which is a positive sign for the economy.
Secondly, linking PAN to Aadhaar helps to simplify the process of tax filing. With the introduction of e-filing, it has become easier for individuals to file their tax returns online. However, in order to file tax returns, individuals must first link their PAN to Aadhaar. Once this is done, the tax filing process becomes much simpler and can be completed in a matter of minutes.
Thirdly, linking PAN to Aadhaar helps to reduce the instances of fraudulent financial transactions. With the increase in digital payments and online transactions, it has become easier for fraudsters to carry out illegal financial activities. By linking PAN to Aadhaar, the government can track suspicious transactions more easily and take action against individuals who engage in illegal activities.
Fourthly, linking PAN to Aadhaar helps to promote financial inclusion. Aadhaar is a unique identification number that is issued to every Indian citizen, including those who are from economically weaker sections of society. By linking PAN to Aadhaar, these individuals can access financial services more easily and participate in the formal economy. This helps to promote economic growth and development.
Fifthly, linking PAN to Aadhaar helps to reduce paperwork and save time. In the past, individuals had to submit multiple documents in order to complete financial transactions. However, with the introduction of Aadhaar, the need for multiple documents has been reduced. By linking PAN to Aadhaar, individuals can complete financial transactions more quickly and efficiently.
Finally, linking PAN to Aadhaar helps to promote transparency in financial transactions. By tracking an individual’s financial transactions, the government can ensure that individuals are paying the appropriate amount of tax and engaging in legal financial activities. This promotes transparency and accountability in the financial system, which is important for the overall health of the economy.
In conclusion, linking PAN to Aadhaar is important for a variety of reasons. It helps to prevent tax evasion, simplify the tax filing process, reduce instances of fraudulent financial transactions, promote financial inclusion, reduce paperwork, and promote transparency in financial transactions. While there may be some challenges associated with linking PAN to Aadhaar, such as technical glitches and privacy concerns, the benefits far outweigh the drawbacks. Overall, linking PAN to Aadhaar is a positive step towards promoting a healthier and more robust financial system in India.
How to Link PAN to Aadhaar: Step-by-Step Guide
The Indian government has made it mandatory to link PAN (Permanent Account Number) with Aadhaar for all taxpayers. This move aims to curb tax evasion and ensure that every taxpayer has a unique identity that cannot be duplicated. Linking PAN to Aadhaar is a simple process that can be completed online or offline. In this article, we’ll provide you with a step-by-step guide on how to link PAN to Aadhaar.
Step 1: Visit the Income Tax e-Filing website
The first step in linking your PAN to Aadhaar is to visit the Income Tax e-Filing website. You can access this website by typing “https://www.incometax.gov.in/iec/foportal/” into your web browser. If you have never used the e-Filing website before, you will need to register as a new user. Registration is a simple process that involves entering your PAN, name, date of birth, and contact details.
Step 2: Log in to the e-Filing website
Once you have registered as a new user, you can log in to the e-Filing website using your PAN as your user ID and the password you created during registration.
Step 3: Go to the “Profile Settings” section
After logging in to the e-Filing website, you will see a dashboard with various options. Click on the “Profile Settings” option to proceed with linking your PAN to Aadhaar.
Step 4: Click on “Link Aadhaar”
Under the “Profile Settings” section, you will see an option to “Link Aadhaar.” Click on this option to proceed.
Step 5: Enter Your Aadhaar Details
After clicking on “Link Aadhaar,” a new page will open up that requires you to enter your Aadhaar details. You will need to enter your 12-digit Aadhaar number, your name as mentioned on the Aadhaar card, and the captcha code displayed on the screen.
Step 6: Click on “Submit”
After entering your Aadhaar details, click on the “Submit” button to proceed.
Step 7: Verify Aadhaar Details
Once you have submitted your Aadhaar details, the website will display your Aadhaar details for verification. Check the details to ensure that they are correct. If there are any errors, you can edit them before submitting.
Step 8: Click on “Link Now”
If the Aadhaar details displayed on the screen are correct, click on the “Link Now” button to proceed.
Step 9: Confirmation Message
After clicking on “Link Now,” a confirmation message will be displayed on the screen. This message confirms that your PAN and Aadhaar have been successfully linked.
Congratulations! You have successfully linked your PAN to Aadhaar.
In case you face any issues while linking PAN to Aadhaar online, you can also link them offline by filling and submitting Form 60 to the nearest PAN service provider or Aadhaar enrolment centre.
In conclusion, linking PAN to Aadhaar is a straightforward process that can be completed in a few simple steps. It is essential to link your PAN to Aadhaar to ensure that your identity is unique and cannot be duplicated. Moreover, it will help you avoid penalties and legal action from the Income Tax Department. Therefore, every taxpayer must link their PAN to Aadhaar before the deadline.
Benefits of Linking PAN to Aadhaar
In India, the government has made it mandatory to link PAN (Permanent Account Number) with Aadhaar, a unique 12-digit identification number issued by the Unique Identification Authority of India (UIDAI). While the deadline to link PAN with Aadhaar has been extended multiple times, it is important to understand the benefits of linking these two documents.
First and foremost, linking PAN with Aadhaar helps to reduce tax evasion and increase tax compliance. Since Aadhaar is linked to biometric data, it is difficult for people to obtain multiple Aadhaar numbers or use fake identities. This makes it easier for the government to track individuals who may be evading taxes or underreporting their income. By linking PAN with Aadhaar, the government can identify such individuals and take appropriate action against them.
Secondly, linking PAN with Aadhaar makes it easier for individuals to file their income tax returns. Previously, individuals had to submit their PAN card and other documents while filing their tax returns. With the introduction of Aadhaar, individuals can now simply link their Aadhaar number with their PAN card and use it to file their tax returns online. This saves time and eliminates the need for physical paperwork.
Thirdly, linking PAN with Aadhaar is useful for people who have multiple PAN cards. This is because it is illegal to hold more than one PAN card. By linking PAN with Aadhaar, the government can identify individuals who have multiple PAN cards and take action against them. This helps to streamline the tax system and ensure that everyone pays their fair share of taxes.
Fourthly, linking PAN with Aadhaar is beneficial for individuals who want to open a bank account or apply for a loan. Banks and financial institutions use PAN as a primary identification document to verify the identity of individuals. By linking PAN with Aadhaar, individuals can easily provide their PAN and Aadhaar numbers to the bank, which helps to streamline the process of opening a bank account or applying for a loan.
Fifthly, linking PAN with Aadhaar can help to reduce identity theft and fraud. Aadhaar is a biometric identification document that uses fingerprints and iris scans to verify the identity of individuals. By linking PAN with Aadhaar, individuals can be assured that their identity is secure and that their personal information is protected.
Lastly, linking PAN with Aadhaar helps to create a more efficient and streamlined system for financial transactions. This is because Aadhaar can be used as a single identification document for various financial transactions such as opening a bank account, applying for a loan, or filing income tax returns. By linking PAN with Aadhaar, the government is creating a unified system for financial transactions that is easy to use and efficient.
In conclusion, there are several benefits to linking PAN with Aadhaar. It helps to reduce tax evasion, makes it easier to file income tax returns, streamlines the process of opening a bank account or applying for a loan, reduces identity theft and fraud, and creates a more efficient system for financial transactions. It is important for individuals to link their PAN with Aadhaar to ensure that they are compliant with the law and to take advantage of the benefits that come with it.
Significance of Linking PAN with Aadhaar:
The linking of PAN with Aadhaar has several benefits. Some of these benefits are as follows:
Reduction in Tax Evasion: Linking PAN with Aadhaar helps the government to keep track of all financial transactions made by an individual. This helps to reduce tax evasion as all transactions are linked to an individual’s PAN and Aadhaar.
Streamlining of the Financial System: The linking of PAN with Aadhaar helps to streamline the financial system in the country. It helps to identify duplicate PAN cards and ensures that each individual has only one PAN card.
Verification of Identity: The linking of PAN with Aadhaar also helps to verify the identity of an individual. This helps to reduce the chances of fraud and ensures that only genuine individuals are issued PAN cards.
Ease of Filing Income Tax Returns:
Linking PAN with Aadhaar makes it easier to file income tax returns. It reduces the chances of errors in the tax return and ensures that the tax return is filed accurately.
Penalty for Not Linking PAN with Aadhaar:
As per Section 139AA of the Income Tax Act, it is mandatory for all Indian citizens to link their PAN with Aadhaar. Failure to link PAN with Aadhaar can result in a penalty. The penalty for not linking PAN with Aadhaar is as follows:
If PAN is not linked with Aadhaar on or before the due date, the PAN card will become invalid. The government has extended the deadline for linking PAN with Aadhaar several times in the past, but the current deadline is 31 March 2023.
If PAN becomes invalid, the individual will not be able to use the PAN card for any financial transactions. They will not be able to open a bank account, make investments, or file income tax returns.
The individual may also face a penalty of Rs. 10,000 for not linking PAN with Aadhaar. This penalty can be levied by the Income Tax Department.
The government has also stated that if an individual fails to link PAN with Aadhaar, their income tax returns will not be processed until the linking is done. This means that the individual will not be able to claim any tax refunds or carry forward losses if their PAN is not linked with Aadhaar.
Therefore, it is important for all Indian citizens to link their PAN with Aadhaar before the deadline to avoid any penalties or inconveniences.
Frequently Asked Questions about Aadhar-PAN Linking
Q: What is Aadhaar PAN linking? A: Aadhaar PAN linking refers to the process of linking an individual’s Aadhaar number with their PAN (Permanent Account Number) issued by the Income Tax Department of India.
Q: Why is Aadhaar PAN linking necessary? A: The government has made Aadhaar PAN linking mandatory for individuals to file their income tax returns. It is also necessary for various financial transactions, including opening a bank account, making high-value transactions, and applying for loans.
Q: What is the deadline to link Aadhaar with PAN? A: The deadline to link Aadhaar with PAN has been extended multiple times, and the current deadline is March 31, 2023.
Q: How can I link my Aadhaar with PAN? A: There are two ways to link Aadhaar with PAN: online and offline. To link Aadhaar with PAN online, you can visit the Income Tax e-filing portal and follow the steps. To link Aadhaar with PAN offline, you can visit a designated PAN service centre or NSDL office and submit the required documents.
Q: What documents are required to link Aadhaar with PAN? A: To link Aadhaar with PAN, you need to provide your Aadhaar number and PAN. If there is any mismatch in the personal details mentioned on your Aadhaar and PAN, you may need to provide additional documents to correct the details.
Q: What happens if I don’t link my Aadhaar with PAN? A: If you fail to link your Aadhaar with PAN by the deadline, your PAN may become inoperative. This means that you will not be able to use your PAN for financial transactions, including filing your income tax returns.
Q: What is the penalty for not linking Aadhaar with PAN? A: As of now, there is no penalty for not linking Aadhaar with PAN. However, your PAN may become inoperative, and you may face difficulties in conducting financial transactions.
Q: Is it necessary to link Aadhaar with PAN for non-resident Indians (NRIs)? A: NRIs are not required to link their Aadhaar with PAN if they do not have an income in India. However, if they have an income in India, they are required to link their Aadhaar with PAN.
Q: Can I link multiple PANs with a single Aadhaar number? A: No, you cannot link multiple PANs with a single Aadhaar number. However, you can link multiple Aadhaar numbers with a single PAN.
Q: Is it possible to link Aadhaar with PAN if my name is different on both documents? A: If your name is different on your Aadhaar and PAN, you may need to provide additional documents to correct the name on either document before linking them.
Q: Is it mandatory to link Aadhaar with PAN for individuals who do not have an income in India? A: It is not mandatory for individuals who do not have an income in India to link their Aadhaar with PAN. However, it is advisable to do so if they have any financial transactions in India.
Q: Can I check the status of Aadhaar PAN linking? A: Yes, you can check the status of Aadhaar PAN linking by visiting the Income Tax e-filing portal and clicking on the “Link Aadhaar” option.
Q: What are the consequences of linking Aadhaar with PAN for privacy concerns? A: There have been concerns about privacy and data security related to Aadhaar PAN linking. However, the government has implemented several measures to ensure the security of personal data, and the Supreme Court has also upheld the constitutionality of Aadhaar.
Q: Can I link my Aadhaar with PAN if my PAN is already linked with another Aadhaar number? A: No, you cannot link your Aadhaar with PAN if your PAN is already linked with another Aadhaar number. In such cases, you will need to first de-link your PAN from the other Aadhaar number before linking it with your own Aadhaar number.
Q: What are the benefits of linking Aadhaar with PAN? A: The benefits of linking Aadhaar with PAN include easy and hassle-free filing of income tax returns, reduced chances of identity theft, and simplified verification of personal details for various financial transactions.
Q: Is it possible to link Aadhaar with PAN if I have lost my Aadhaar card or PAN card? A: Yes, you can link Aadhaar with PAN even if you have lost your Aadhaar card or PAN card. However, you will need to obtain a duplicate Aadhaar or PAN card and provide the required details to link them.
Q: What is the process to de-link Aadhaar from PAN? A: To de-link Aadhaar from PAN, you can visit the Income Tax e-filing portal and click on the “Link Aadhaar” option. From there, you can select the “De-link Aadhaar” option and follow the instructions.
Q: Can I link Aadhaar with PAN for someone else? A: No, you cannot link Aadhaar with PAN for someone else. Each individual must link their Aadhaar with PAN using their own personal details.
Q: What are the consequences of linking Aadhaar with PAN for tax evaders? A: Linking Aadhaar with PAN helps in identifying cases of tax evasion and black money. It enables the government to track financial transactions and identify individuals who are not filing their income tax returns or underreporting their income. Failure to link Aadhaar with PAN may also lead to penalties and fines.
Q: Is it necessary to link Aadhaar with PAN for senior citizens? A: Yes, senior citizens are also required to link their Aadhaar with PAN if they have an income in India.
Q: Can I link Aadhaar with PAN without a registered mobile number? A: No, a registered mobile number is mandatory to link Aadhaar with PAN as an OTP (one-time password) is sent to the registered mobile number for authentication purposes.
Q: What is the validity of Aadhaar PAN linking? A: Once linked, Aadhaar PAN linking is valid for a lifetime, unless there is a change in personal details such as name, address, or date of birth.
Q: Can I link Aadhaar with PAN for a minor child? A: No, minors are not eligible to obtain a PAN card until they turn 18. Therefore, there is no requirement to link Aadhaar with PAN for minors.
Q: Can I link Aadhaar with PAN for a joint PAN card? A: No, Aadhaar cannot be linked with a joint PAN card. Each individual who is listed on the joint PAN card must link their individual Aadhaar with their individual PAN.
Q: What should I do if there is a discrepancy in my Aadhaar or PAN details? A: If there is a discrepancy in your Aadhaar or PAN details, you may need to update or correct them before linking them. You can update your Aadhaar details online or by visiting an Aadhaar enrollment centre, while you can update your PAN details by submitting a correction form to the Income Tax Department.
Q: Can I link Aadhaar with PAN if I am not an Indian citizen? A: Non-Indian citizens who have a PAN and have an income in India are required to link their Aadhaar with PAN. However, if they do not have an income in India, they are not required to link Aadhaar with PAN.
Q: Can I link Aadhaar with PAN if my PAN is inoperative? A: Yes, you can link Aadhaar with PAN even if your PAN is inoperative. However, it is advisable to first update and activate your PAN before linking it with Aadhaar.
Q: What is the deadline to link Aadhaar with PAN? A: The deadline to link Aadhaar with PAN has been extended several times by the government. Currently, there is no specific deadline for linking Aadhaar with PAN.
Q: What is the penalty for not linking Aadhaar with PAN? A: Failure to link Aadhaar with PAN may result in penalties and fines, as well as difficulties in filing income tax returns. Additionally, the government may also take legal action against individuals who fail to link their Aadhaar with PAN.
Q: Can I link Aadhaar with PAN offline? A: Yes, you can link Aadhaar with PAN offline by visiting the nearest PAN service centre and submitting a form along with the required documents. However, online linking is a more convenient option.
Q: What are the documents required for linking Aadhaar with PAN? A: The documents required for linking Aadhaar with PAN include your PAN card, Aadhaar card, and a registered mobile number.
Q: What is the deadline for linking PAN with Aadhaar? A: The current deadline for linking PAN with Aadhaar is 31 March 2023.
Q. Is it mandatory to link PAN with Aadhaar? A: Yes, it is mandatory for all Indian citizens to link their PAN with Aadhaar.
Q. Can I link my PAN with Aadhaar offline? A: Yes, you can link your PAN with Aadhaar offline by visiting any PAN service centre or Aadhaar enrollment centre.
Q. What is the process for linking PAN with Aadhaar offline? A: To link PAN with Aadhaar offline, you need to fill out the Form 49A and submit it along with a self-attested copy of your Aadhaar card. You can also link your PAN with Aadhaar by visiting an Aadhaar enrollment centre and providing your PAN and Aadhaar details.
Q. What is the penalty for not linking PAN with Aadhaar? A: The penalty for not linking PAN with Aadhaar is Rs. 10,000. In addition, the PAN card will become invalid, and the individual will not be able to use it for any financial transactions.
Conclusion
In conclusion, the linking of PAN with Aadhaar has been a controversial topic in India, with arguments on both sides. While some people have concerns over privacy and security issues, others believe that it will help to streamline the financial system and reduce tax evasion. Regardless of the opinions, it is important to note that the government has made it mandatory for all Indian citizens to link their PAN with Aadhaar. Failure to do so can result in penalties, including the invalidation of the PAN card and a fine of Rs. 10,000.
Therefore, it is recommended that individuals comply with the government’s directive and link their PAN with Aadhaar before the deadline to avoid any inconvenience. It is also important for the government to address the privacy and security concerns that have been raised by the citizens. In any case, the linking of PAN with Aadhaar has the potential to improve the financial system and increase transparency, but it must be implemented with care and consideration for the rights and concerns of the citizens.
The Sovereign Gold Bond (SGB) is a popular investment option for those looking to invest in gold. These bonds are issued by the Reserve Bank of India (RBI) on behalf of the government and are denominated in grams of gold. The SGB scheme was first introduced in 2015 and has been gaining popularity ever since.
For 2023, the government has announced that it will issue multiple tranches of Sovereign Gold Bonds throughout the year. These tranches will allow investors to invest in gold in a systematic manner, rather than investing a large sum of money all at once.
Benefits of investing in SGBs in 2023
One of the key benefits of investing in SGBs is that they offer the same benefits as physical gold, but without the hassle of storing or securing the gold. The bonds can be easily traded on stock exchanges, and investors can also choose to redeem them for cash at the prevailing market price.
SGBs also offer an annual interest rate of 2.5% on the initial investment amount. This interest is paid out semi-annually, making SGBs a good investment option for those looking to earn a steady income.
Furthermore, SGBs are considered a safe investment option, as they are backed by the government of India. This means that investors do not have to worry about the creditworthiness of the issuer.
Investors who wish to invest in SGBs can do so through banks, post offices, stock exchanges, and other designated channels. The application process is simple and can be done online or offline.
Investors must provide their basic details, such as name, address, and PAN number, along with their investment amount. Once the application is processed, the bonds are credited to the investor’s demat account.
Investors who do not have a demat account can also invest in SGBs through physical certificates. These certificates are issued by the RBI and can be redeemed for cash at the end of the bond’s maturity period.
Important Disclaimer
Investing in SGBs involves risk, and investors are advised to conduct their own due diligence before investing. The value of the bonds can fluctuate depending on market conditions. Also, since the redemption price will be dependent on the spot price at the time of the redemption, there is a possibility that the investors may not be able to redeem the bonds for the full investment amount. It is important to carefully read the prospectus and other documents provided by the RBI before investing in SGBs.
Conclusion
Sovereign Gold Bonds are an excellent investment option for those looking to invest in gold. The bonds offer all the benefits of physical gold, without the hassle of storing or securing the gold. The annual interest rate of 2.5% makes SGBs a good investment option for those looking to earn a steady income.
In 2023, the government will issue multiple tranches of SGBs throughout the year. Investors can invest in these tranches in a systematic manner, rather than investing a large sum of money all at once. The application process is simple, and investors can invest in SGBs through online or offline channels.
Overall, the Sovereign Gold Bond is a safe and attractive investment option for those looking to invest in gold. The government’s commitment to issuing multiple tranches in 2023 provides investors with an excellent opportunity to invest in gold in a systematic and safe manner. However, it is important to conduct due diligence before investing in SGBs.
So, feel free to bookmark the dates for the application dates and issuance dates of the Sovereign Gold Bonds for 2023. The detailed SGB tranches dates calendar for 2021, 2022 have previously been updated, and webnotes.in will continue to update for 2023 as well.
As per the recent announcement by the Reserve Bank of India (RBI), the Sovereign Gold Bond (SGB) scheme will be open for subscription from March 6th to March 10th, 2023. This scheme allows investors to invest in gold without actually buying physical gold, which makes it an attractive investment option.
Details of the Sovereign Gold Bond Scheme
The SGB scheme is issued by the RBI on behalf of the Government of India. The bonds are denominated in grams of gold, and the price of one gram of gold is fixed by the government based on the prevailing market rates at the time of issuance. Investors can purchase these bonds from authorised banks and financial institutions or through the stock exchanges. The minimum investment in SGBs is one gram of gold, and the maximum is 4 kilograms for individuals and HUFs (Hindu Undivided Families) and 20 kilograms for trusts and other eligible entities.
SGB (Sovereign Gold Bonds) March 2023 Dates
What dates will the Sovereign Gold Bonds be available for application in March 2023?
The Sovereign Gold Bond Scheme 2022-23 – Series 04 (March 2023 SGB series) will be open for subscription from March 06, 2023 (Monday) to March 10, 2023 (Friday).
The detailed information on the Issue Details are as follows:
Issue Details of SGB March 2023 i.e. 2022-23 Series IV Tranche
Issue Name
Sovereign Gold Bonds Scheme 2022-23 – Series 4 (Series IV)
Security Symbol
SGB222304
ISIN
INxxxxxxxx
Issue Period
March 06, 2023 to March 10, 2023
Issue Price (per gram of gold)
Online Mode: ₹ 5,561 per gram | Offline Mode: ₹ 5,611 per gram
Minimum Quantity (in grams)
1 gram
Maximum Quantity (in grams)
For Individuals and HUF: 4000g (4kg). For Trusts, and similar entities: 20,000g (20kg)
Bid Quantity Multiples
You may apply in multiples of 01 gram, until the specified maximum quantities.
Rate of Interest
The Government of India has indicated that an interest of 2.50% per annum on the amount of initial investment will be paid to investor. The interest accrual shall commence from the date of issue, and is paid out every 6 months.
Date of Allotment
March 14, 2023 (Tuesday)
Date of Listing
TBC
Interest Rates and Tenure
The SGB scheme provides an interest rate of 2.5% per annum, payable semi-annually on the invested amount. This rate is significantly higher than the interest rates offered on other gold investments such as gold ETFs (Exchange-Traded Funds) and physical gold. The tenure of Sovereign Gold Bonds is eight years, with an option to exit after the fifth year. Investors can choose to redeem the bonds at any time after the fifth year, and the redemption price will be based on the prevailing market price of gold at the time of redemption.
Allotment Price
The allotment price of Sovereign Gold Bonds is based on the average closing price of gold of 999 purity of the last three business days of the previous week.
For the March 2023 tranche, the allotment price would be for ₹ 5,561 per gram (online mode), and ₹ 5,611 per gram (offline mode).
The allotment of bonds is made on a first-come, first-served basis, subject to the availability of bonds. The bonds are issued in a dematerialised form, which means that investors do not receive any physical certificates for their investment. Instead, they receive an electronic certificate in their demat account.
How to Apply for Sovereign Gold Bonds
Investors can apply for the SGB scheme through their banks or financial institutions. They need to fill in the application form and submit it along with the necessary documents and payment. The payment can be made through cash, cheque, demand draft or online transfer. The banks or financial institutions will then submit the application to the RBI on behalf of the investor. Investors can also apply for SGBs through the stock exchanges if they have a demat account.
Benefits of Investing in Sovereign Gold Bonds
Sovereign Gold Bonds offer several benefits to investors.
Firstly, they provide an opportunity for investors to invest in gold without actually buying the physical metal. This eliminates the need for storing, insuring, and transporting physical gold, which can be costly and risky.
Secondly, the interest rate offered by the government is significantly higher than other gold investments, which makes it an attractive investment option.
Thirdly, the exemption of capital gains tax on maturity provides a tax-efficient way of investing in gold.
Lastly, Sovereign Gold Bonds can be used as collateral for loans, providing investors with an additional source of funds.
Conclusion
The Sovereign Gold Bond scheme provides an excellent investment opportunity for individuals looking to invest in gold. The interest rate offered by the government, tax benefits, and the option to use the bonds as collateral for loans make them a compelling investment option. The March 2023 subscription window provides an opportunity for investors to invest in these bonds and diversify their portfolio. However, it is essential to consider factors such as market volatility and the prevailing gold prices before investing in SGBs. Overall, Sovereign Gold Bonds are an excellent investment option for individuals looking to invest in gold and diversify their portfolio.
Hopefully, this article helps you with all the details needed to make your investment decision.
With the announcements dated 08th December 2022, stock market holidays list for 2023 have been announced by both the BSE, as well as the NSE. The list includes the trading holidays, for now. The settlement holidays list will be shared by the exchanges at a later date. The list also includes the public holidays that fall on Saturdays and Sundays. However, these have not been included in the below list, since all weekend days (Saturdays, and Sundays) are, in any case, shut for trading.
How many days will the Stock Exchanges be closed in 2023?
There are a total of 15 (fifteen) trading holidays in 2023, when the stock exchanges will be shut for equity markets trading.
List of Stock Market Holidays for 2023
Sr. No
Date
Holiday Name
01
January 26, 2023 (Thursday)
Republic Day
02
March 07, 2023 (Tuesday)
Holi
03
March 30, 2023 (Thursday)
Ram Navami
04
April 04, 2023 (Tuesday)
Mahavir Jayanti
05
April 07, 2023 (Friday)
Good Friday
06
April 14, 2023 (Friday)
Dr. Babasaheb Ambedkar Jayanti
07
May 01, 2023 (Monday)
Maharashtra Day
08
June 28, 2023 (Wednesday)
Bakri Id
09
August 15, 2023 (Tuesday)
Independence Day
10
September 19, 2023 (Tuesday)
Ganesh Chaturthi
11
October 02, 2023 (Monday)
Mahatma Gandhi Jayanti
12
October 24, 2023 (Tuesday)
Dussehra
13
November 14, 2023 (Tuesday)
Diwali- Balipratipada
14
November 27, 2023 (Monday)
Gurunanak Jayanti
15
December 25, 2023 (Monday)
Christmas
Trading Holidays in
January 2023
Republic Day on January 26, 2023 (Thursday)
February 2023
No trading holidays in February 2023
March 2023
Holi on March 07, 2023 (Tuesday)
Ram Navami on March 30, 2023 (Thursday)
April 2023
Mahavir Jayanti on April 04, 2023 (Tuesday)
Good Friday on April 07, 2023 (Friday)
Dr. Babasaheb Ambedkar Jayanti on April 14, 2023 (Friday)
May 2023
Maharashtra Day on May 01, 2023 (Monday)
June 2023
Bakri Id on June 28, 2023 (Wednesday)
July 2023
No trading holidays in July 2023
August 2023
Independence Day on August 15, 2023 (Tuesday)
September 2023
Ganesh Chaturthi on September 19, 2023 (Tuesday)
October 2023
Mahatma Gandhi Jayanti on October 02, 2023 (Monday)
Dussehra on October 24, 2023 (Tuesday)
November 2023
Diwali- Balipratipada on November 14, 2023 (Tuesday)
Gurunanak Jayanti on November 27, 2023 (Monday)
December 2023
Christmas on December 25, 2023 (Monday)
Muhurat Trading Day 2022
In 2023, Muhurat trading for Samvat 2080 will be held on November 12, 2023 (Sunday). For further updates, refer to this detailed article on Muhurat Trading.
