https://www.taxtmi.com/news?id=14749 The Gold Deposit Scheme permits designated banks, under RBI guidelines, to accept gold in scrap form from resident Indians and issue a passbook or certificate; deposits earn bank-fixed interest, have defined maturities, and allow repayment in gold or a rupee equivalent at maturity or premature encashment after an initial lock-in period. Mobilised gold is used as loans to the jewellery industry, and interest is exempt from Income Tax, Wealth Tax and Capital Gains Tax. en-us Fri, 24 Jul 2015 17:44:23 +0530 Fri, 24 Jul 2015 17:44:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14749 The Gold Deposit Scheme permits designated banks, under RBI guidelines, to accept gold in scrap form from resident Indians and issue a passbook or certificate; deposits earn bank-fixed interest, have defined maturities, and allow repayment in gold or a rupee equivalent at maturity or premature encashment after an initial lock-in period. Mobilised gold is used as loans to the jewellery industry, and interest is exempt from Income Tax, Wealth Tax and Capital Gains Tax. News - Fri, 24 Jul 2015 17:44:23 +0530 https://www.taxtmi.com/news?id=14749