Sovereign Gold Bonds: No Capital Gains Tax with a Caveat
The Reserve Bank of India (RBI) had fixed the issue price of sovereign gold bonds (SGB) at Rs3,119 per gram (gm) for the fourth tranche of subscription (from 18 July to 22 July 2016). It was the first offering in the current financial year. To make the scheme attractive, capital gains tax arising on redemption of SGB to an individual has been exempted. So, any increase in the gold price during...
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