Amrita Agarwal's video: Looking to Buy Gold Things to Check Before You Buy

Gold is a kind of volatile investment, as it doesn’t guarantee much returns. Hence, a buyer should always include gold to their portfolio while purchasing it, to lower their charges and taxes and to maximise the returns on it. More Info:https://financebuddha.com/blog/looking-to-buy-gold-things-to-check-before-you-buy/ Apply Personal loan: https://financebuddha.com/insta-loan Things to Consider before you Buy Gold Purity Ensuring the purity of the gold you are buying is one of the most important things. You have to make sure that you get what to want to have. To ensure the purity Karat is the unit, which is used to measure gold. Higher the karat, the more pure the gold is and more will be the cost. 24, 22, 18 karat gold is the purest form in which one gets gold. In the case of 24k gold, all 24 parts of the gold is pure with an extremely low level of impurities in it. Purchasing 22Karat of gold is also considered good, it contains 22 part of gold and 2 parts of other metals mixed in it. Genuine Certification (Hallmark) Genuine certification is also one of the important things to consider while purchasing Gold. Bureau of Indian standard provides certification which in common words you can say Hallmark. This is one of the important things to check as it defines gold’s authentication and purity. Whether it be a gold bar or a gold ornament, check for the BIS Hallmark certification. Other Charges While purchasing gold, price is not straight forward all the time. The breakthrough of the charges involved is not told to you, until you ask the shopkeeper directly. These charges involve – making charges and wastage charges. So, on the basis of these charges the total price of your gold may increase. Some brands like PC jewellers, Malabar Gold Etc. always offers some discount on these charges, so, purchasing gold during that period is best as when these charges are wiped out, it becomes cheaper to purchase gold. The Taxes Different GST slabs are relevant on different types of gold, remember you additionally need to pay taxes to the government for the capital gain which you get on selling the gold. Right off the bat, SGB is the most tax proficient type of gold speculation since it is free of GST, and its development continues in eight years are 100% tax-exempt. This implies your total comes back from SGB are a lot higher contrasted with some other type of gold purchased simultaneously. The clearance of physical gold, ETFs and gold shared subsidizes will draw in Short Term Capital gains where the speculation residency is under three years, or a Long Term Capital Gains charge at the pace of 20% with indexation benefits where the venture residency is longer than three years. Buy Back Terms Last but not the list don’t forget to ask for the buyback terms. This includes how much you will get at the time to sell it, will there be any kind of deduction? However, when you have hallmark and bills along with you, there is no deduction expected and you can get the full amount. Bills Bills are always important to have and ask for, and our government also suggest us to ask bill for any kind of purchase you are making. This gives you a clear idea of the breakdown of the price, GST, Making Charges and so on. Moreover, when you have a bill it becomes easy for you to resell it. You can also connect with us Facebook: https://www.facebook.com/financebuddha/ Twitter: https://twitter.com/FinanceBuddha LinkedIn: https://www.linkedin.com/company/finance-buddha/