Modi government selling gold cheaper…
Modi government selling gold cheaper than market price in lockdown!
Amid the ongoing lockdown in the country, the Government of India has brought a new scheme to buy Buy Gold on Cheap Price. Starting 11 th May,2020 .
Amid this crisis of Corona (Coronavirus Crisis), gold prices continue to boom. In the midst of rising gold prices, the Government of India has introduced a new scheme of cheap gold. The government has fixed the next phase of Sovereign Gold Bond Scheme at ₹ 4,590 per gram. The Sovereign Gold Bond Scheme will be open for Series-2 subscription of 2020-21 from 11 May 2020 to 15 May 2020. Earlier, the issue price of the series was Rs 4,639 per gram. The first issue of Sovereign Gold Bond was opened from April 20 to April 24, 2020. Let us tell you that the domestic bullion market is closed due to lockdown. But in the future, gold prices have reached close to 50 thousand rupees per ten grams. How much can one buy gold – A person investing in the Sovereign Gold Bond Scheme can buy a maximum of 500 grams of gold bonds in a financial year. At the same time, minimum investment is one gram. You can save tax by investing in this scheme. Under the scheme, an interest of 2.5 per cent will be earned on the investment. The RBI has said in its statement that the issue price of the gold bond has been fixed at ₹ 4,590 per gram but those applying online and paying for the gold bond will get a rebate of Rs 50 per gram. If you pay in digital mode Then there will be a discount of Rs 50 per gram. The issue price of the bond will be Rs 4,540 per gram with a discount. Under this scheme, the smallest bond will be equal to 1 gram of gold.
Any person or HUF can buy a maximum gold bond of 4 kg in a financial year. Overall, the limit for buying bonds individually is 4 kg, while 20 kg has been fixed for the trust or organization. The maturity period of this scheme is 8 years. But if you still want to sell bonds, you have to wait for at least 5 years. After this period, sovereign gold bonds can be redeemed at market prices. Only someone or HUF, trusts, universities and welfare institutions can buy this bond. What is Sovereign Gold Bond Scheme? – The scheme started in November 2015. Its purpose is to reduce the demand for physical gold and to use the domestic savings used in the purchase of gold in financial savings. Instead of buying gold at home, if you invest in sovereign gold bond, you can also save tax. Buy Cheap Gold from here- Sovereign Gold Bond is sold through banks, stock holding corporation of India limited, selected post office and NSE and BSE. You can go to any one of these places and join the bond scheme. Let us tell you that the price of this bond is fixed in rupees on the basis of the prices given by Bharat Bullion and Jewelers Association Ltd. for the last 3 days of 999 purity gold. Capital gains tax will be saved – Bond prices depend on the volatility in gold prices. The fall in gold prices gives negative returns on gold bonds. To reduce this volatility, the government is issuing long-term gold bonds. The investment period in this is 8 years, but you can withdraw your money even after 5 years. Capital gain tax is also not levied on withdrawing money after five years.
