How will AMC check the quality of the gold that your Authorised Participants (APs) will deposit with custodian?
The custodian will accept physical gold only if the gold is in the compliance with the Good Delivery norms specified by LBMA as described in the SID. The Custodian will also ensure that Gold bars deposited with it indicate that the fineness is 995 or above. • Can I exchange Units of Gold ETF for gold? No (except for Authorised Participants and Large Investors). Delivery of the gold will be at the location of the Custodian within the jurisdiction of Mumbai. • How are Gold ETFs taxed under Income Tax Act, 1961? Gold ETFs schemes are treated like non-equity mutual funds for the purpose of taxation. So, the gains attract short term capital gains (STCG) tax if held for less than one year and long term capital gains (LTCG) tax if the period of holding is more than a year. For futher details please refer to the Scheme Information Document (SID), which is available on our website http://www.hdfcfund.com/, and at the ISCs/ Bank Collection Centres of HDFC Mutual Fund. Investors can also contact
