You have gold but it is physical and you want to buy digital gold? So you have come to the right blog, may I give you some good information about buying gold online correctly with best the price.
So know the right way to invest in gold and the way to get good returns in gold:
Many people are also saying how good digital gold is. In the recent days, you must have heard about many apps, websites which telling to invest directly in gold through them. Is that correct? & In recent times, people like to invest in digital gold, so digital digital gold is right? or physical gold is good ?
Limitations of Phisical Gold :
There are some loopholes in physical Gold, Like:
Need Sufficient Amount :
You cannot buy 100 rupees 200 rupees gold, you have to take at least 1 gram of gold and you cannot invest in gold with less money. So you can get physical gold for at least 5000 rupees, and if you want to invest in gold for the every month, then you cannot invest with less money. You need same amount which you was paid for first time (Rs.5000)
No Monthly Annual Income:
If you have taken physical gold, then you will not get annual profit and there will be no profit without selling. And you will have a lack of liquidity
Extra Cost ( Making Charges )
Making charges: If you are buying gold from the jewelery shop, then you also have to pay making charges and melting charges on the taken gold. Because of this, it will effect on your profits. And even when you go to sell, you have to pay some money on that too.
When you buy gold, then you have to pay 3% GST tax on the full price of the gold.
Benefits of investing in digital gold:
If you have to invest in gold, you do not need to go to the jewellery shop. You can buy or sell digital gold from anywhere. Just like we transfer money from bank to another’s account without going to the bank through online banking.
similarly, you can buy or sell gold without going to the jewellery shop. With this you will get gold right at the right price, no fear of theft, no making cost and you can sell gold anytime so that you will have adequate liquidity.
The gold you buy online will remain in the same reputed company’s warehouse or in the gold storeg. And it is the responsibility of the company to maintain the gold. And you don’t have to worry.
Invest from Minimum Amount:
You are investing in digital gold so that you can invest in a minimum amount without any hassle. And Also if you want to invest your savings in the monthly basis in the gold so you can do though digital gold investment.
No liquidity Problem:
Due to being digital gold, you can buy and sell gold anytime. If you need money, then you can take money by selling gold in that short time. You will not have any liquidity problem due to Digital Gold.
Few Things are same which is in Physical Gold;
You also have to pay tax in digital gold like GST 3%. And you do not get interest or returns in a year or month. This thing is very similar to physical gold.
Best Way to invest Invest in Gold in india in 2021:
So you must be thinking how to invest in gold properly, even if digital gold does not get any annual interest or profit. One of the best way to invest in gold is sovereign gold bond.
Gold Investment In india
sovereign gold bond:
You can store gold in the form or Certificate (Bond). Just like you had to pay 3% GST on physical or digital gold, you do not need to pay GST while buying gold on this bond. And at the same time you get 2.5% annual interest in sovereign gold bond without selling it, which is not found in the physical gold. Same like bank gives you interest on your investment in savings account.
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Locking Period And Capital Gain Tax:
You cannot sell this bond for 8 years, according to the rules( SOVEREIGN GOLD BOND: 8 years Loking Period ).
“Capital Gain TAX” If You bought gold in 40,000 and after 8 years, if the price of gold has increased to 50,000, then there is no need to pay any capital gains tax on your profits
Can I sell sovereign gold bond before 8 years?
Yes. You can exit this bond before 8 years. In this you get an option that you can sell this bond after 5 years but you have to pay capital gains tax while selling. But if you keep for 8 years, you will not need to pay capital gain tax.
This was my blog for gold investment. If you want to buy gold according to investment, then if you invested in sovereign gold bond, it would be better. Thank you so much for spending your precious time reading my blog.