Digital gold is a virtual method of buying or investing in the yellow metal without physically holding the gold. You can buy it online. The minimum buys or sells value is at least 1Rupee(approximately $0.013). It can be bought online and it is stored in insured vaults by the seller on behalf of the buyer.
How digital gold is different from physical gold?
Physical gold is usually bought for ornamental purposes but cannot be considered a smart investment option. It has many non-refundable fees such as making charges, storage costs, etc., which make it a liability rather than an asset. Moreover, holding gold in its physical form at home is risky also.
Start investing today with India’s leading Gold Companies like Heera Digital Gold, India or any other.
It is a new type of investment. An instrument that allows you to invest in 24 Karat pure gold, which is then stored in secure vaults under your ownership. If you wish to take possession of the same, you can redeem it for 24 Karat/ 999.9% in purest gold coins. Heera Digital Gold is also one of India’s leading companies in the gold market. You can buy it online through their trusted partners like Paytm, PhonePe, and GPay also.
Services by Heera Group of Companies:
Customers can buy gold in the form of jewelry, coins, or bars from the HDG platform. They can choose the number of Karats, type, etc, and store them in our secure vaults.
It is no unknown fact to anyone that more than 2 % of Heera Group profits went for the development of girl children in the bucolic parts of India. It also raises awareness for girl child education in the remote parts of the rural villages. Heera Residential School and Colleges is proof of its benign largesse. It was its founder Nowhera Shaik’s vision to empower women that were shaped into reality with the funding from this company.
- Starting from Silver Coins, Gold Coins, Platinum Coins and other jwellery products.
- Genuine Products
- The State of the art, Karate meter present in all stores
- Signature finish products
- 100% buy back at current price
- Complete Transparency in billing
- Wide range of design collection for all age groups
Tax on Digital Gold in India:
Returns on digital gold assets held for less than 36 months are not taxable. In the case of long-term capital gains, you’d have to pay a 20% (percent) tax on the whole amount, plus a surcharge and a 4% cess with indexation benefits.
GST on Digital Gold:
GST is not only levied in the case of buying physical gold, but also in the case of digital gold. So, if in case you are buying digital gold, you also need to pay GST at the rate of 3% as the digital gold provider buys physical gold in your name equivalent to the invested amount.
Pros and cons of Digital Gold
· Buyer or Investor can take physical gold delivery at his doorstep
· Invest an amount as small as Rupee 1 or Rs.100
· It can be used as collateral for online bonds or loans
· Digital gold is genuine it is 24K pure
· It can be stored safely & can be insured 100%
· It can be exchanged for physical jewelry, gold coins, or bullion
· There is a limit for investing on most of the platforms, up to Rs.200,000 limit
· No official regulating body like RBI or Sebi
· Delivery and making charges may apply
· Sometimes, companies may offer limited storage time periods.
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