What if you gift or invest in gold festive season? Tax implications

Recently the news has come on the internet that during festivals gifting methods have changed. But, not all have surrendered to the new age glitzy gifting manners picked and selected in tune with marketing gimmicks and easy gifting options. Since the news has come on the internet it went viral and uncounted reactions started hitting the headlines. Currently, this news has been gaining huge attention from the people as they are keen to know about the whole information about the news. We have more information about the news and will share it with you in this article.

Gold Price

But still, few people like the old-school line of thought when it comes to giving and getting gifts in gold and silver. As our old individual state “Trends can change but values never change”. Every day of the festival, starting from the onset of Navarstris and extending until Diwali, brims with deep importance symbolism. Gold stands as a preeminent symbol within Indian culture, with increased regard for its exquisite allure, unadulterated purity, and lasting value. Currently, this news has been making a headline on the internet. Scroll down to the next page for more information about the news.

With centuries of history, gold became an essential element of Indian heritage. Undoubtedly, gold holds a unique and dear place in the hearts of the Indian public, which explains the general practice of buying and financing gold and silver during festivals. Before making any conclusion, it’s important to have a clear understanding of the tax ramifications tied to investments in gold and silver. Below are some essential tax factors to bear in consideration. You are on the right page for more information about the news, so please read the complete article.

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Capital gains tax: Investments in silver and gold are subject to capital gains tax (CGT). CGT pertains to the tax imposed on earnings when selling a capital asset, like gold or silver. To decide the nature of the gain, the holding period is selected at three years. The STCG is taxed according to your relevant income tax slab rate. The long-term capital gains (LTCG) on gold and silver are subject to a fixed rate of 20 percent, with the counted benefit of indexation. Here we have shared all the information that we had if we get any information then we will update you soon. Stay tuned to us for more updates.

Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.