Government plan: Today is the last day to buy cheap gold, invest soon, otherwise it will be too late

Government plan: Today is the last day to buy cheap gold, invest soon, otherwise it will be too late

The government has given the public an opportunity to buy gold at cheaper rates. Investors can buy gold at a much lower price than the market price under the sovereign gold bond system. The scheme is open for only five days (May 17 to May 21). That is, today is her last day. So if you want to take advantage of this scheme, don’t delay. There will be many other benefits besides exemption under income tax rules on profit from selling it. This information came from a statement issued by the Ministry of Finance. This is the first series of fiscal year 2021-22 by the government to invest in gold bonds. The Finance Ministry said in a statement that the sovereign gold bonds will be issued in six installments between May and September.

Let’s find out what is the value of the gold underneath.

This is the price of gold

Under the scheme, you can buy gold at 4,777 rupees per gram. That is, if you buy 10 grams of gold, it will cost 47,770 rupees and if the gold bonds are purchased online, the government will offer an additional discount of 50 rupees per gram to investors. In this, payment for orders has to be done through “digital mode”. To buy gold online, investors will have to exchange 4,727 rupees per gram of gold. In this case, you will receive 10 grams of gold for 47,270 rupees.

It will get a lot of attention

Gold bonds have an eight-year maturity and charge interest of 2.5% annually. The interest accrued on the bond is taxed according to the investor’s tax tile, but is not tax deductible at the source (TDS).

Know in advance where you can invest.

You can invest here

The gold bonds will be sold through banks, Securities Holdings Corporation of India (SHCIL), designated post offices and recognized stock exchanges (NSE and BSE). The Sovereign Gold Bond Program was launched in November 2015, with the aim of reducing the immediate demand for gold and converting a portion of the domestic savings used to purchase gold into financial savings.

This should be the minimum investment

The face value of the bond is based on the average simple closing price (published by the Indian Bullion and Jewelery Association) during the last three business days for gold of 999 purity. The minimum permissible investment is one gram of gold and a maximum of four kilograms per person. For the undivided Hindu family, the limit for investors is kg. 20 kg for trust and similar units.

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