Akshaya Tritiya 2022: The day of Akshaya Tritiya 2022 has arrived. Akshaya Tritiya 2022 is falling today i.e. on 3rd May. Considered auspicious in India, buying gold on Akshaya Tritiya is an age-old tradition in the country that continues even today. It is said to bring good luck and fortune, and Indians, with their love for the yellow metal, Buy gold on Akshaya Tritiya, However, the COVID-19 pandemic has reduced the demand for physical gold, while more and more investors are turning to buying digital gold.
digital gold Can be bought by anyone through various platforms. In India, the three companies that sell digital gold are Augmont Gold; MMTC-PAMP India Pvt. Ltd., a joint venture between state-run MMTC Ltd. and Swiss firm MKS PAMP; and Digital Gold India Pvt. Ltd. with its own SafeGold brand. You can also buy digital gold this Akshaya Tritiya using wallets including Paytm, Amazon Pay, Google Pay and PhonePe.
The major reasons behind digital gold can be attributed to its easy availability and low price. Here are the things you should know before buying digital gold on Akshaya Tritiya 2022:
What is Digital Gold?
as the name suggests, digital gold There is gold that can be bought online. The equivalent value of physical gold is held by the seller on behalf of the investor in a secure vault.
purity
One of the main things that investors should check before buying digital gold is its purity. According to experts, digital gold purchased from MMTC-PAMP is likely to be more pure than gold purchased from the platform in association with SafeGold.
How to Buy Digital Gold?
Investors can buy digital gold by opening an account directly through the refiner. They can also open accounts on partner platforms to buy digital gold. Apart from mobile wallets and refiners, jewelers like Tanishq, Kalyan Jewelers and PC Jewelers have also started offering digital gold through tie-ups.
To buy from refiners or jewellers, you will first need to create an account and complete your eKYC process, choose the amount you wish to buy, choose your payment method and then complete the purchase.
You need to follow a similar procedure while buying digital gold from your wallet like Google Pay and PhonePe, the difference is that the money will be deducted from that particular wallet.
buy gold in 1 rupee
Buying digital gold is also a small investment option, as sellers allow you to buy gold in small amounts. The price range of Digital Gold starts from Rs.
GST and other taxes
Vijay Singhania, Chairman, TradeSmart said, “There is no tax on holding of less than 3 years in case of digital gold, i.e. no short term tax on digital gold.
“But long-term holding in digital gold attracts the same tax as a physical good, ie 20 per cent tax rate and 4 per cent cess above that,” Singhania said.
Additionally, buying digital gold will attract a GST of 3 per cent on the actual price like real gold.
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