How much can you buy gold? A person who invests in the Sovereign Gold Bond Scheme can purchase a maximum of 500 grams of gold bonds in a fiscal year. At the same time, it is necessary to have a minimum investment of one gram. You can save taxes by investing in this scheme. The investment under the scheme will earn an annual interest of 2.5 percent.
RBI has said in its statement that the issue price of the gold bonds has been set at ₹4,590 per gram, but those who apply and pay for the gold bonds online will get a discount of Rs 50 per gram. be a discount of Rs 50 per gram. With the discount, the issue price of the bond will be Rs 4,540 per gram. The smallest bonus under this scheme will be equal to 1 gram of gold.
Any individual or HUF can purchase a maximum of 4 kg of gold bonds in a fiscal year. In general, the limit to buy bonds individually is 4 kg, while for trusts or organizations it has been set at 20 kg.
The maturity term of this plan is 8 years. But if you still want to sell the bond, you have to wait at least 5 years. After this period, the Sovereign Gold Bonds can be redeemed at market prices. Only any individual or HUF, trusts, universities and welfare institutions can purchase this bond.
What is the sovereign gold bond scheme? This scheme was started in November 2015. Its purpose is to reduce the demand for physical gold and use the internal savings used in the purchase of gold for financial savings. You can also save taxes by investing in Sovereign Gold Bonds instead of buying gold at home.
Buy cheap gold here- Sovereign Gold Bond is sold through banks, Stock Holding Corporation of India Limited, selected post offices and NSE and BSE. You can join the bonus scheme by visiting any of these places. Let us tell you that the price of this bond is fixed at Rs.
You will save capital gains tax Bond prices depend on the volatility of gold prices. Falling gold prices give negative returns to gold bonds. To reduce this volatility, the government is issuing long-term gold bonds. The investment period on this is 8 years, but you can withdraw your money even after 5 years. Capital gains tax also does not apply to withdrawals after five years.undefined
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PUBLISHED FOR THE FIRST TIME : May 09, 2020, 10:30 AM IST