Points to remember before you participate in this discussion:
|Sameer Mathur said: (Feb 7, 2019)|
|Warm Regards to all,
In my view, gold monetization scheme is a great initiative by our Government as we can keep our gold in any form in Gold Monetization Scheme and earn interest as the price of the metal grows up.
It is a fantastic avenue to earn some return which otherwise was parked in Bank Lockers or homes.
From the point of view of Taxmann, its transfer is exempt vide Section 47 and any interest earned on it is exempt u/s 10 (15) (vi).
|Ashu said: (Feb 5, 2019)|
|Gold monetisation have following merits:.
-it is safer with the government.
-helps in GDP growth.
-good for society and people both.
-better to use it instead of keeping it idle at home.
|Sandeep said: (Nov 23, 2018)|
|I think gold monetisation is good of every people as well as the country. Some people have a large amount of gold and they are worried about gold or theft. And this does not give extra money but gold monetisation gives you approx 2. 2-2. 5%per annum and also safe your gold.|
|Srinivas K said: (Nov 15, 2018)|
|Indians are very fond of Gold ornaments as everyone knows. We, just keep those in the locker and use occassionally to showcase our richness in the society. But, why we really need to keep something idle for years and years in lockers which has capability to increase your wealth? GMS is one such nice scheme by Govt, by which we can earn money with our Gold.|
|Gopi said: (Sep 4, 2018)|
|In my view, gold monetization is a great initiative taken by the government. In India people of most regions have a habit of buying gold as a symbol of status, as a result, there is an increase in import of gold to India every year. Gold is like static liquid it won't help for countries economic growth. Monetization helps both society and people. In the present scheme, the government is providing interest at the rate of 2.25-2.5 % depending on the period and value of gold deposited. We won't get anything if we store gold in our homes this scheme helps in getting interest from it and helps for countries GDP growth. Hence more awareness should be provided to people and scheme should be made succesful. Thank you.|
|Mohini Pandey said: (Aug 12, 2018)|
|GMS allows the depositors of gold to earn tax free market determined interest income (denominated in gold but recoverable either in gold or in rupee [mandatorily in rupee if it is deposited for a medium or long term]) from the pure gold they deposit with banks in their "Gold Savings Accounts" and permits the jewelers to obtain their raw material -gold bars created from the melting of the gold deposited with the banks- as loans in their "Metal account".|
|Muskan said: (Aug 12, 2018)|
|According to me, it'a great idea of gold monetisation because as we can see the liquidity of gold has been dec soo much so by this we can get gold back in the markets rather than storing them in banks lockers.|
Gold Monetization Scheme
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