REGISTERED No. D. 221 रजिन्ट्रिी सं ० डी-221
भारत का राजपत्र The Gazette of India
असाधारण
EXTRAORDINARY
भाग 1- खण्ड 1
PART I- Section 1
प्राधिकार से प्रकाशित
PUBLISHED BY AUTHORITY
सं ० 144] नई दिल्ली मंगलवार अक्टूबर19 ,1965 / कार्तिक 2 , 1887 No. 144 ] NEW DELHI , TUESDAY , OCTOBER 19 , 1965 / KARTIK 2 , 1887
इस भाग में भिन्न पृष्ठ संख्या दी जाती है जिससे कि यह अलग संकलन के रूप में रखा जा सकें ।
Separate paging is given to this Part in order that it may be filed as a separate compilation ,
MINISTRY OF FINANCE
(Department of Economic Affairs )
NOTIFICATION
New Delhi , the 19th October , 1965
No. F. 4 ( 28 ) -W & M / 65.- Subscriptions for the issue of 44 per cent . National Defence Loan , 1968 and 44 per cent . National Defence Loan , 1972 will be received from the 27th of October 1965 until further notice . Subs- criptions will be in the form of cash or cheque .
and
44 per cent . National Defence Loan , 1968 44 per cent . National Defence Loan , 1972
2. DATE OF REPAYMENT . The 4 per cent . National Defence Loan , 1968 and the 44 per cent . National Defence Loan , 1972 will be repaid at par on the 27th of October , 1968 and the 27th of October 1972 , respectively . A non - resident who subscribes to these loans from out of fresh foreign exchange remittance will be granted repatriation facilities for principal and interest .
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[PART I-SEC. Ц 1312
3. ISSUE PRICE .-The issue price for both the loans will be Rs . 100 for every Rs . 100 ( Nominal ) of the loan applied for.
4. INTEREST.- The 4 per cent . National Defence Loan , 1968 will bear interest at the rate of 4 per cent . per annum and the 4 per cent. National Defence Loan , 1972 will bear interest at the rate of 4 per cent . per annum. Interest on both the loans will be paid half-yearly on the 27th of April and 27th of October , the first payment of interest being for the period from the date of purchase of the loan to the date preceding that on which the pay- ment of half- yearly interest is due.
5. INCOME - TAX.- Non - residents will be exempt from tax under the Income - tax Act , 1961 on the interest on the loans held by them . Residents holding the loans will be liable to tax on the interest . However , resident individuals holding the loans will be entitled to receive the interest without any deduction of income - tax at source at the time of payment.
SUPPLEMENTARY PROVISIONS
6. PLACE OF PAYMENT OF INTEREST .---Interest on the loans will be paid at the Public Debt Offices of the Reserve Bank of India at Bangalore , Bombay , Calcutta , Hyderabad , Madras , Nagpur , New Delhi and Patna , at any treasury or sub - treasury elsewhere in India , except for the State of Jammu and Kashmir , and at the Central Government's Pay and Accounts Offices at Jammu and Srinagar .
7. Refunds of tax when deducted at the time of payment ( at rates prescribed by the annual Finance Acts ) will be obtainable by holders of the loans , who are not liable to tax or who are liable to tax at a rate lower than the rate at which tax was deducted .
A holder , other than an individual holder , who is not liable to tax or who is liable to tax at a rate lower than the prescribed rate , can obtain , on application , a certificate from the Income - tax Officer of the district , authorising payment of interest to him without deduction of tax or with deduction of tax at such lower rate as may be applicable to the holder .
8. The securities will be issued in the form of : ----
(i ) Stock, the applicants for which will be given Stock Certificates , or
(ii ) Promissory Notes .
If no preference is stated by the applicants , the securities will be issued in the form of Promissory Notes . For non - residents subscribing to these loans out of fresh foreign exchange remittance , securities will be issued only in the form of Stock.
9. APPLICATIONS FOR THE LOANS -Applications for the Loans must be for Rs . 100 or a multiple of that sum .
10. Applications will be received at-
(a) Offices of the Reserve Bank of India at Bangalore , Bombay (Fort and Byculla) , Calcutta , Madras , Nagpur and New Delhi ;
(b) Branches of the subsidiary banks of the State Bank of India conducting Government Treasury work ; and
(c) Branches of the State Bank of India at other places in India .
THE GAZETTE OF INDIA EXTRAORDINARY
[PART I-SEC . 1 ]
1313
11. Applications may be in the form attached hereto or in any other form which states clearly the amount and description of the securities required , the full name and address of the applicant and the office at which he desires that interest shall be paid .
12. Applications should be accompanied by the necessary payment in the form of cash or cheque . Cheques tendered at the offices of the Reserve Bank of India , the State Bank of India or its subsidiary banks should be drawn in favour of the Bank concerned . Applications for subscriptions to the above loans on account of non - residents should be submitted through their bankers in India together with a certificate from the bankers that the foreign exchange for the investment was received after the 19th October , 1965. The form of certificate will be specified by the Reserve Bank of India.
13. Brokerage will be paid at the rate of 6 paise per Rs . 100 ( Nominal ) to recognised banks and brokers on allotments made in respect of appli- cations for the Loans bearing their stamp .
By order of the President
A. R. SHIRALI .
Joint Secretary to the Government of India .
THE GAZETTE OF INDIA EXTRAORDINARY
[PART I - SKO, 4 1314
=
FORM OF APPLICATION
I/We
[Full name ( s ) in Block letters ]
herewith
tender * Cash Rs ...
* Cheque for Rs ....
and request that securities of 47 per cent . National Defence Loan 1968 * 4 per cent . National Defence Loan 1972 * of the nominal value of Rs . me/us into may be issued interest to be payable at ... the form of Promissory Note ( s ) † Stock Certificate( s)
I am/ We are resident ( s ) / not resident ( s ) in India.
Signature .
Name in full .
(Block letters)
Present Address
Permanent Address .
Dated the .
19 .
NOTE .- Separate applications should be made for each new loan and for each form of scrip ( Stock Certificate or Promissory Note) of the new loan required.
*Delete what is not required .
Promissory Notes will be issued in denominations of Rs . 100 , Rs . 200 , Rs . 500 , Rs . 1,000, Rs . 5,000 , Rs . 10,000 , Rs . 25,000 , Rs . 50,000 and Rs . 1,00,000, State here the particular denominations required .
THE GAZETTE OF INDIA EXTRAORDINARY
[ PART I-SEC . 1 ]
1315
NOTIFICATION
New Delhi , the 19th October , 1965
No. F. 4 ( 29) -W & M / 65.- Subscriptions for the issue of National Defence Gold Bonds , 1980 will be received without limit of amount from the 27th of October 1965 to the 31st of January 1966 , both days inclusive , but the Government of India reserve the right to close the issue earlier without notice . Subscriptions will be in the form of gold , gold coins and/ or gold ornaments . The date of issue of the Bonds will be the date on which the gold is tendered at the receiving office .
NATIONAL DEFENCE GOLD BONDS , 1980
2. DATE OF REPAYMENT .- The Bonds will be repaid in the form of gold of 995 fineness on the 27th of October , 1980 .
3. Issue of Bonds and annual payments : -
(a) The Gold Bonds to be issued will state the weight of gold of 995 fineness as determined after assay of the tender . The weight will be correct to the nearest gramme .
(b) No Bond will be issued if the total quantity of gold tendered is less than 10 grammes of 995 fineness , or equivalent .
( c) The holders of the Bonds will receive an annual payment at the rate of Rs . 2.00 per annum per 10 grammes of gold of 995 fineness , as shown in the Bonds . The payment will be made on 27th of October each year , the first payment being for the period from the date of issue of the Bonds to the 26th of October 1966 , inclusive .
4. INCOME - TAX. The payments referred to in paragraph 3 ( c ) above will be free of income - tax under the Income - tax Act , 1961 .
5. WEALTH TAX , CAPITAL GAINS TAX , GIFT TAX AND ESTATE DUTY . The Bonds will be exempt from Wealth Tax and any capital gains from their sale or transfer will not be subject to income - tax . Capital loss , if any, will not be eligible for being set - off .
Gifts , in a year , of Bonds by the initial subscriber will be exempt from Gift Tax to the extent of the value of Bonds for an aggregate weight of five kilo grammes of gold . The Bonds will also be exempt from Estate Duty on the first occasion on which they pass on the death of a holder to the extent of the value of Bonds for an aggregate weight of fifty kilo grammes of gold .
6. Payments under paragraph 3 ( c) above will be made at the Public Debt Offices of the Reserve Bank of India at Bangalore , Bombay , Calcutta , Hyderabad , Madras , Nagpur , New Delhi and Patna , at any treasury or sub - treasury elsewhere in India , except for the State of Jammu and Kashmir , and at the Central Government's Pay and Accounts Offices at Jammu and Srinagar .
THE GAZETTE OF INDIA EXTRAORDINARY
[PART 1- SEC. 1 } 1316
7. The Bonds will be issued in the form of
( i ) Stock , the applicants for which will be given Stock Certificates , or
( ii ) Promissory Notes .
If no preference is stated by the applicants , the Bonds will be issued in the form of Promissory Notes .
8. APPLICATIONS FOR THE BONDS.-Applications for the Bonds will he received at--
( a) Offices of the Reserve Bank of India at Bangalore , Bombay , Calcutta , Madras . Nagpur and New Delhi ;
(b) Branches of the subsidiary banks of the State Bank of India conducting Government treasury business ; and
(c) Branches of the State Bank of India at other places in India .
9. Applications may be in the form attached hereto or in any other form which states clearly the weight and description of the gold , gold coins and gold ornaments tendered , the amount and description of the securities required , the full name and address of the applicant and the office at which he desires to receive the payments referred to under paragraph 3 ( c ) .
10. Applications should be accompanied by the tender of gold , gold coins and/ or gold ornaments offered .
11. A provisional receipt for the gold tendered will be given by the receiving office . After the gold has been assayed , a final receipt for the gold accepted in payment for the Bonds will be given at the time of the delivery of the Bonds .
By order of the President , A. R. SHIRALI , Joint Secretary to the Government of India .
THE GAZETTE OF INDIA EXTRAORDINARY
[PART I-SEC . 1 ]
1317
FORM OF APPLICATION
I/We .
[Full name ( s ) in Block letters ]
herewith tender *
and request that securities of National Defence Gold Bonds , 1980 , equivalent to the weight of gold of 995 fineness may be issued to me/us in the form of Promissory Note ( s ) / Stock Certificate ( s ) payments to be made at .
Signature .
Name in full .
(Block letters)
Address
Dated the .
NOTE .- Separate application should be made for each form of scrip ( Stock Certi- ficate or Promissory Note ) of the Bonds required .
*Give particulars of gold/ gold coins / gold ornaments tendered and approximate weight.
PRINTED IN INDIA BY THE GENERAL MANAGER , GOVERNMENT OF INDIA PRESS .
NEW DELHI AND PUBLISHED BY THE MANAGER OF PUBLICATIONS , DELHI , 1965