Gold price by Investorocean.com
Taxes Applicable While Buying/Selling Gold in Jalna
In terms of physical gold, taxes on selling gold is applicable depending upon the duration that you have held them. For both short term and long terms taxes applicable are different. Long-term capital gains are subjected to 20% tax and an extra 40% cess charge. Any applicable extra charge is also levied at the time of final transaction, also, if you buy gold worth Rs. 2 Lakh or more than an extra 1% TDS is also applicable. While buying physical gold a 3% GST is levied and the price of jewellery include an extra 5% making charge.
Digital gold which is rising in popularity when it comes to investments scheme are also subjected to the same kind of taxes as for physical gold if you hold them for a period of 3 years or more. The tax of 20% along with cess and extra charges, if applicable, is not levied on digital gold held for less than 3 years.
Gold ETFs and Gold Mutual Funds are taxed at the same rate as digital gold.
Sovereign Gold Bonds are treated differently than other gold investments, since there is interest of 2.5% per annum the same is added to the principal value of the gold and hence taxed. The tax levied is dependent on the tax slab that the person falls under.
How Can You Make Gold Investments in Jalna
Gold is many things all at once; it is versatile and is still unique in every sense. It does not amount to becoming a liability at any point because of its liquid nature and is most certainly is an asset. Investments in gold is not limited to buying gold in physical form these days you can also invest in different schemes as well.
Investing in Physical Gold
Investing in physical gold is buying gold in form of jewellery, coins, biscuits etc. They are the most traditional type of gold investment where you hold on to the physical asset and sell, if and when required, at a higher price.
Investing Gold ETF
Gold (Exchange Traded Fund) ETFs are like stocks and therefore implies that when you a piece of Gold ETF you also own a proportion of the total gold reserve in the market. However, any change in physical gold prices directly affects the difference of rate in Gold ETFs.
Investing in Gold Mutual Funds
Unlike Gold ETFs where you own a digital gold in proportion to the value of your investment, investment in gold mutual funds means that you own a share of the company, which directly mines the physical gold. Hence, any performance lapse in the company itself will affect your investments adversely.
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