The short-term capital gains amounting to Rs 1.35 crore, arising from the redemption of mutual fund units, are not taxable in India for the Non-Resident Indian (NRI) investors under the India-Singapore tax treaty. This came as a relief for the NRI investors as the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) eased out … Read more
Sovereign Gold Bonds (SGB), one of the popular gold investment tool, were debt securities issued by the Reserve Bank of India (RBI) on behalf of the government, with each unit representing a gram of gold. These bonds can be traded in the secondary market, allowing investors to potentially gain capital. Additionally, the government utilises SGBs … Read more
Sovereign Gold Bonds: The next tranche of the Sovereign Gold Bond (SGB) scheme, initially launched on August 5, 2016, is scheduled for redemption on August 5, 2024, after an eight-year holding period. These bonds were purchased at Rs 3,119 per gram and have provided substantial returns to investors. Out of the 2.6 tons originally acquired, 225.322 … Read more
The Reserve Bank of India (RBI) revealed the Sovereign Gold Bond (SGB) Scheme Series III schedule for the fiscal year 2023-2024, which is set to commence on December 18 and conclude on December 22. The RBI has established the issue price for SGBs 2023-24 Series III at Rs 6,199 per gram, with a discount of … Read more
Most mutual funds categories witnessed net outflows in August as cautious investors continued to sell their investments and held on to cash, probably to tackle the uncertain environment created by the Covid pandemic. August marked the fifth straight month of fall in inflows in the equity mutual funds, shows monthly data from Amfi. Net outflows … Read more