Gold Rate in Dharmapuri

The Sovereign Gold Bond or SGB are the government securities denominated in terms of grams of gold. They act as substitutes for holding the physical form of gold. Here investors will have to pay the issue price in terms of cash and the bonds will be redeemed in cash on maturity of the bonds.   

The following are the three different types of gold colours available in India and they are yellow gold, white gold and rose gold.   

Hallmarked gold is the certified form of gold. This will guarantee the purity of the metal for the purchaser, which is a matter of great concern when it comes to purchasing gold. The Bureau of Indian Standards (BIS) has made it mandatory to stamp a certificate of purity and fineness of gold which is known as hallmarking on all the gold ornaments meant for selling purposes.   

As per the rules of the Income Tax Act of 1961, the Income Tax laws in India will not permit transactions in cash above a specific limit. Section 269ST of the Income Tax Act prohibits cash transactions which are above Rs 2 lakhs in a single day, in aggregate from a person in a day or in respect of transactions relating to one event or occasion from one person.

If any individual purchases gold jewellery in cash over and above Rs 2 lakh on a single day, then they will be violating the income tax law. The receiver of cash in such kind of transaction will be liable to pay a penalty amount transacted in cash as per Section 271D of the Income Tax Act. s 

If the value of the purchase is over and above Rs 2 lakhs, then under Rule 114B of the Income Tax Act of 1962, the purchaser must mandatorily provide the PAN card details irrespective of the mode of payment made to the seller.   

The term KDM stands for Kadmium. Kadmium is an alloy made by combining gold and cadmium in the proportion of 92 per cent of gold and the remaining 8 per cent with cadmium. In India, earlier the KDM gold was used to solder gold jewellery pieces together. But owing to health concerns, its usage has been banned in the country by the Bureau of Indian Standards (BIS).