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Gold Silver Reports (GSR) – Gold prices have hit new highs in India. If you are looking to cash in on higher prices, you should know the income tax implications. Apart from physical forms like jewellery, coins and bars, gold can also be held in electronic forms like gold ETFs or exchange traded funds (ETFs), gold mutual funds and sovereign gold bonds. Income tax rules levied on sale of gold also depends on the form of gold holding and time period of holding.
Sovereign gold bonds
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Govt Fixes Rs 3,214 per gram Price For Next Series of Gold Bonds
“Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode,” RBI said in a statement.
Three Ways to Buy Gold in Paper Form – Gold Silver Reports
Gold exchange traded funds – You can buy gold in paper form through gold exchange traded funds (ETFs). From gold ETFs you get the returns on the gold prices. You cannot buy it without a demat account.