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However there is no wealth tax you have to pay.
Government job vacancies in sri lanka 2020 my tutor. Sovereign gold bond 2020 21 is issued by reserve bank india on behalf of the government of india. The bonds will be exempt from wealth tax under the wealth tax act 1957. The bonds are denominated in multiples of grams of gold with a basic unit of 1 gram and the tenor of the sgb will be eight years with exit option after the fifth year to be exercised on the interest payment dates.
The government has announced the launch of floating rate savings bonds 2020 taxable with an interest rate of 715 per cent. Treasury bills are available with a maturity period of 91 days 182 days and. Taxation of 775 government of india savings bonds.
Tax will be deducted at source tds while interest is paid. Interest income from 775 government of india savings bonds will be taxable.
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