Modi Government Is Bringing A New Bank Account, Double Gain
Modi Government Is Bringing A New Bank Account, Double Gain The Modi Government is now coming up with a new bank account after the public-funded account named as Gold Savings Account. This account will also open in the branches of banks just like any other common account. The Ministry of Finance has recommended starting a gold savings account to the Policy Commission. The main feature of this account is that, whenever you will deposit money to your account, and on your passbook, the quantity of gold will be increased instead of the amount. According to the recommendation, customers would be able to withdraw both the amount of gold from the savings account at the time of need. Suppose you have a kilogram of gold in your account, according to the market price, its value is 30 lakh rupees on that day. So whether you want to take 30 lakh rupees or one-kilogram gold from the bank. this is up to you. Together with interest Like any other common savings account, interest will also be available on the Gold savings account. No Capital Gain Tax No capital gains tax will be charged on the interest or extra gold you receive. During the submission of the amount, the amount of gold in your account will be calculated according to the market price of gold that day. It will include GST and import duty. During the withdrawal of money, you will be given the option of taking the amount or gold according to the market price of gold that day.
