Great offer: cheap gold, tax rebate, interest profits, this plan is starting from Monday, know everything

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The government is giving the public a chance to buy gold at cheaper rates. Investors can buy gold at a much lower price than the market price under the Sovereign Gold Bond scheme. The scheme is open for only five days (from 17 May to 21 May). That is, Monday is its first day. So if you want to take advantage of this scheme, then be ready. There will be many other benefits along with exemption under the Income Tax rules on the profit on its sale. This information came from a statement issued by the Ministry of Finance. The settlement date will be 25 May 2021. This is the first series of the financial year 2021-22 by the government to invest in gold bonds. The Finance Ministry said in a statement that Sovereign Gold Bonds will be issued in six installments between May and September.



This is the price of gold

Under the scheme, you can buy gold at Rs 4,777 per gram. That is, if you buy 10 grams of gold, then it costs Rs 47,770 and if the gold bond is purchased online, then the government gives an additional rebate of Rs 50 per gram to such investors. In this, payment for applications has to be made through 'digital mode'. For buying gold online, investors will have to shell out Rs 4,727 per gram of gold. In this case, you will get 10 grams of gold for Rs 47,270.


Will get much interest

Gold bonds have a maturity period of eight years and get an interest of 2.5% per annum. The interest accrued on the bond is taxable as per the tax slab of the investor, but it is not tax deducted at the source (TDS).

You can invest from here

The gold bonds will be sold through banks, the Stock Holding Corporation of India (SHCIL), designated post offices, and recognized stock exchanges (NSE and BSE). The Sovereign Gold Bond Scheme was launched in November 2015, aimed at reducing the spot demand for gold and converting a portion of domestic savings used for the purchase of gold into financial savings.

This should be the minimum investment

The bond's face value is based on the simple average closing price (published by the India Bullion and Jewelers Association) over the last three working days for gold of 999 purity. The minimum allowable investment is one gram of gold and a maximum of four kilograms per person. For the Hindu undivided family, the maximum limit of investors is kg. It is 20 kilograms for trusts and similar units.