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"Accordingly, it has been decided that the requirement of nomination ....for mutual funds shall be optional for jointly held mutual fund folios," the Securities and Exchange Board of India (Sebi) said in a circular.
Gold tends to experience robust growth in periods of high inflation, and find good support at the start of a rate cut cycle. Add to these the elevated geopolitical risk, and we see gold as an important component of portfolios as it is expected to do well.
Gains earned on Gold ETFs bought after March 31, 2023 are taxed as per the income tax slab irrespective of the time when you sell them. Sovereign gold bonds are taxed at the slab rate when sold within three years of buying or at 20 percent when they are sold after 3 years
The investment objective of the scheme will be to generate income from fixed-income instruments and generate capital appreciation for investors.
The value of exchange-traded funds (ETFs) changing hands on the National Stock Exchange (NSE) surpassed ₹1 trillion in the first nine months of financial year 2023- 24 (FY24), and for the second year in a row.