Is there any clarity about this yet? I had seen some email replies from RBI which suggested that exemption would be applicable on secondary market purchases as well but upon re-reading them, I noticed they were similar to what is already written in the Tax Treatment section of Press releases of SGB Scheme
I asked this because I recently saw an article, where the following was mentioned -
Will an investor get the same benefits on SGB if purchased directly and in case buying it from the secondary markets?
“Investors will not get the same benefits from the secondary market as compared to direct purchase since they will not get the 2.5 per cent interest per annum and will not be exempt from capital gains. However, in the secondary markets it can be purchased on a discount on a falling gold price scenario,” said Ravi.
The part about not getting interest seems to be incorrect/misquoted but the part about non-exemption from capital gains is what piqued my curiosity