Capital gain bonds
This query is : Resolved
29 October 2011
Capital gain bonds(54 EC) tend to be allotted on the last day of the month.
ie The prospectus states that "Last day of each month in which the subscription money
is realized and credited to REC account."
Does this mean that if someone files an Application on 1st November will not get to know whether hes been allotted these bonds till 30th November?
Also these bonds tend to have a subscription limit..as in the NHAI bonds have a ceiling of 1900 crore..is there a possibility that the subscriber doesnt get the bonds he applied for?Do REC bonds have a ceiling as well?
ie The prospectus states that "Last day of each month in which the subscription money
is realized and credited to REC account."
Does this mean that if someone files an Application on 1st November will not get to know whether hes been allotted these bonds till 30th November?
Also these bonds tend to have a subscription limit..as in the NHAI bonds have a ceiling of 1900 crore..is there a possibility that the subscriber doesnt get the bonds he applied for?Do REC bonds have a ceiling as well?
CA PARAS BAFNA
(Expert)
29 October 2011
REC extends subscription in this Issue till 31.03.2012 or till any notification /modification is done by the GOI in the Income Tax Act,1961 u/s 54 EC of the Income Tax Act,1961, whichever is earlier
All other terms & conditions of the Information Memorandum (IM) remain same, inclusive the Interest Rate i.e 6.00% p.a.
Please follow the link -
https://rec.rcmcdelhi.com/offers.php
All other terms & conditions of the Information Memorandum (IM) remain same, inclusive the Interest Rate i.e 6.00% p.a.
Please follow the link -
https://rec.rcmcdelhi.com/offers.php
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