Gold Monetisation Scheme: Benefits

Q.  Which of the following statements is/are correct about Gold Monetisation scheme?

1. Gold in any form can be deposited with banks for a period of one to 15 years.
2.Interest earned on it would be exempt from income tax as well as capital gains tax.
- Published on 14 Sep 15

a. Only 1
b. Only 2
c. Both
d. None

ANSWER: Both
 
Announced in the Budget for 2015-16, Gold Monetisation Scheme allows gold to earn interest and redemption will be at the prevailing market value at the end of the tenure of deposit. Under this individuals and institutions can deposit as low as 30 gm of gold.

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