Maximizing Tax Savings: Understanding the Tax Benefits of Gold Loans
Muthootfinance106 Sep, 2024Finance
Gold loans are secured loans, which can be beneficial in cases of urgent financial requirements. There are many banks and non-banking financial institutions (NBFCs) that provide various gold loan schemes to individuals. To receive the funds, you can pledge your gold as collateral and get a gold loan on EMI. Emergencies benefit greatly from a gold loan, but it's also worthwhile to take one out for specific expenses due to the potential gold loan tax benefits. It’s important to keep in mind that the tax deduction on a gold loan depends on how you use the funds.
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