New Delhi: The Central government is giving an opportunity to the public to buy gold at affordable rates. Investors can buy gold at a price lower than the market price under the Sovereign Gold Bond scheme from August 9, Monday. The scheme is open for only five days (9th August to 13th August). The benefits on its sale will be accompanied by concessions under income tax rules and many more benefits.
This is the fifth series of FY2021-22 for investment in gold bonds by the government. The Finance Ministry had said in a statement that sovereign gold bonds will be issued in six installments between May and September. If you are also thinking of investing in the scheme, let us know what is the price of gold under it. Under the scheme, you can buy gold at Rs 4,790 per gram. That is, if you buy 10 grams of gold, it costs Rs.47,900 and if the gold bond is purchased online, the Government gives an additional concession of Rs.50 per gram to such investors.
The payment for applications is to be made through 'digital mode.' Investors will have to pay Rs 4,740 per gram of gold on buying gold online. In this case, you will be able to buy 10 grams of gold for Rs. 47,400. The maturity period of gold bonds is eight years and attracts an interest of 2.5 percent per annum. The interest on bonds is taxable in line with the investor's tax slab but does not have a tax deduction (TDS) at the source. The price of gold in the domestic market is 47,926 per 10 grams, so the Government is giving you gold at Rs.526 cheaper price.