National Highway Authority of India has invited application for tax free bonds eligible for investment u/s 54EC. So , anyone who has long term capital gains in hand and wants to save tax can invest in the 54EC bonds issued by NHAI . The application acceptance starts on 11/5/2009 and ends on 31/3/2010 subject to total collection ceiling is Rs 4000 Crore. Interest rate is 6.25 % per annum tax free ,as such there is no TDS on it.
Date of Start: 11.05.2009
Date of Closure: 31.03.2010
Face Value Rs. 10000/- per Bond
Issue price Rs. 10000/- per Bond
Minimum application size : Five Bonds of Rs. 10,000/- each and in multiple of one Bond thereafter.
Maximum application size: Five Hundred Bonds of Rs. 10,000/- each (Rs. 50,00,000 ) subject to fulfillment of other conditions as specified in Income Tax Act.
Mode of Subscription: 100% on application
Deemed Date of Allotment: Last day of each month for application money cleared and credited in NHAI’s collection account
Transferability: The Bonds are non-transferable, non-negotiable and cannot be Offered as a security for any loan or advance
Maturity : 3 years from Deemed Date of Allotment
Interest payment : Annual
Coupon rate : 6.25% per annum
Redemption: at the time of Maturity
Availability of the prospectus and application form: Across the country with NHAI offices, leading SEBI Registered Category-I Merchant Bankers & Banks
Bankers , All the Branches of IDBI Bank and Selected branches of Syndicate Bank, HDFC Bank & Punjab National Bank. For details of bank branches please refer Information Memorandum (IM).
Date of Allotment:At the last day of every month
Registrar: M/s Beetal Finacial & Computer Services (P) Ltd, “Beetal House”,3rd Floor, 99, Madangir,Behind Local Shopping Centre, New Delhi-110062 , ph. 011-29961281-83, Fax – 011-29961284,Email- beetal@beetalfinancial.com
The Applicants can download application forms from this website and deposit completed forms to the designated bank branches. The bank branches will allot the required application form number and will accept the application. For application form , please Click here
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