Bonds are redeemed Registered bondholders relinquish their legally discharged bond certificates (by signing on the reverse of the bonds with a Revenue Stamp of Re. 1/-) on the date of maturity. The redemption record date is one month before the deemed encashment / redemption date.
What is the procedure for redeeming IFCI infrastructure bonds?
This is to inform investors that, as per the Information Memorandum of August 09, 2010, the opportunity to exercise the option of buyback is available for bonds held in Option I and II, as shown in the table below:
If you wish to exercise the buyback option available in 2017, you must download and send the duly signed Buyback Option Form, after carefully reading the instructions contained therein, to the Registrar & Transfer Agent during the buyback intimation period listed in the above table, which is no later than August 31, 2017.
If bonds are held in physical mode, payment will be made only upon submission of the ORIGINAL BOND CERTIFICATE; if bonds are held in demat form, payment will be made only upon extinguishment of bonds. As a result, please make sure your demat account is current.
If you have any questions, please contact the Registrar & Transfer Agent at Registrar & Transfer Agent at Registrar & Transfer Agent at Registrar & Transfer Agent at Registrar & Transfer
What is the procedure for claiming IFCI bonds?
It has come to our attention that certain firms/entities, such as Lotus Securities, are sending individual communications to registered bondholders of IFCI Long Term Infrastructure Bonds issued by IFCI, with its registered office at IFCI Tower, 61 Nehru Place, New Delhi 110019, stating that the bonds will be redeemed by them.
The General Public is thus advised that IFCI has not authorized or appointed anyone to act on its behalf for redemption. Bondholders are encouraged to use extreme caution and diligence when dealing with such firms/entities in order to avoid any loss as a result of dealing with these unlicensed third parties.
Please note that IFCI is not responsible for any bondholder’s encashment decision made through these Firms/Entities if the bondholder relies on any such representations/statements made by the Firms/Entities.
Each bondholder should conduct their own independent appraisal or assessment of the transaction. Bondholders should call IFCI at +91-11-41792800, 41732000 (Extn. No. 2475/2457 & 2420) if they require any assistance.
When a bond reaches maturity, how do you redeem it?
Your link has finally matured after three decades of waiting. If you wish to cash in your bonds, you must follow specific requirements depending on the type of bond you have (paper or electronic).
- You can cash electronic savings bonds on the TreasuryDirect website, and you’ll get your money in two days.
- Most major financial institutions, such as your local bank, accept paper savings bonds.
If you can’t find your fully matured paper savings bond, you can have it electronically replaced by going to the TreasuryDirect website and filling out the necessary papers.
You’ll need the serial number of the bond, which serves as a unique identity. If this isn’t accessible, you’ll need other information, such as the exact month and year the bond was purchased, the owner’s Social Security number, and the names and addresses of the bond’s owners. Even if you’ve misplaced the bond, it’s possible to find it with a few efforts.
You can keep your bond after it matures, but you will not get any extra interest. On the one hand, because you can’t spend a savings bond without redeeming it, the value of your bonds is considered “secure.” On the other side, if your bond isn’t redeemed, you’ll miss out on additional sources of interest. With current inflation rates, it doesn’t make much sense to hold a bond that pays nothing and is losing money to inflation every day.
Finally, regardless of whether you redeem your bonds or not, you will owe taxes on them when they mature. In the year of maturity, make sure to include all earned and previously unreported interest on your tax return. If you don’t, you may be subject to a tax penalty for underpayment.
How can I purchase infrastructure bonds in 2021?
If you have a demat account, you can apply to invest in an infrastructure bond online. You must complete an online application form.
These relationships can be applied for in a physical form. You’ll need a PAN card that has been self-attested. As part of the KYC (Know Your Customer) procedure, you must provide proof of identity and address.
After the lock-in period has expired, these bonds can be exchanged on stock exchanges like stocks.
Is IFCI bond interest taxable?
Is it true that these infrastructure bonds are tax-free? No, the interest on these bonds is not tax deductible. The interest earned by the investor is subject to taxation.
What is the procedure for returning US savings bonds?
- Whether you have a local bank account and it accepts savings bonds, inquire if it will accept yours. The answer may be contingent on the length of time you’ve had an account there. If the bank will cash your check, find out if there is a monetary restriction on redemptions and what kind of identification and other documentation you’ll need.
- Send these, along with FS Form 1522, to Treasury Retail Securities Services (download or order). The bonds are not required to be signed. You’ll need to verify your identity. The instructions are on FS Form 1522, in the “Certification” section. Our address is also included in the form.
What exactly is an IFCI bond?
Instrument. Series-I Unsecured, Redeemable, Non-Convertible Long-Term Infrastructure Bonds with benefits under Section 80 CCF of the Income Tax Act of 1961. Bonds have a face value of $5,000/- each. Date of Allotment Assumed.