Precious Metals | wealthymatters

Gift Deed Or Relinquishment Deed?

February 5, 2014 2 Comments

wealthymatters When it comes to transferring property, a sales deed may not always fit the bill, especially if you want to pass it on to relatives. In such cases, instruments like a gift deed or relinquishment deed can come to your rescue. However, blindly choosing either can lead to problems.You must understand the purpose of each document before getting it drafted. Know the benefits as well as drawbacks of each.

Gift deed

This document allows you to gift your assets or transfer ownership without any exchange of money. To gift immovable property, you just have to draft the document on a stamp paper, have it attested by two witnesses and register it. Registering a gift deed with the sub-registrar of assurances is mandatory as per Section 17 of the Registration Act, 1908, failing which the transfer will be invalid. Besides, such a transfer is irrevocable. Once the property is gifted, it belongs to the beneficiary and you cannot reverse the transfer or even ask for monetary compensation.

However, if you want to gift movable property like jewellery, registration is not compulsory. At the same time, a mere entry in an account book is not sufficient to establish a transfer. Apart from physically handing over the property, you need to back it with a gift deed. The process is slightly different if you are gifting company shares. You have to fill out the share transfer form and submit it to the company or registrar, and the transfer agent of the firm. Once again, get a gift deed drawn and executed to complete the transfer, but the document need not be registered. Read more of this post

Filed under Alternative Assets, Paper Assets, Precious Metals, Theory, Tool Kit Tagged with capital gains, gift deed, gifting property, gifting property to relatives, gifting shares, immovable assets, inheriting property, movable assest, no will, postaday, Registration Act 1908, stamp duty, transferring property

Auspicious Days To Buy Gold in 2014

January 16, 2014 4 Comments

wealthymatters

JAN	14	Makar Sankranti
	16	Gurupushyamrit
FEB	3	Shree Ganesh Jayanti
	13	Gurupushyamrit
MAR	12	Pushya Nakshatra
	31	Gudi Padwa
MAY	2	Akshaya Tritiya
JUN	2	Pushya Nakshatra
	29	Pushya Nakshatra
JUL	12	Guru Poornima
	27	Pushya Nakshatra
AUG	10	Raksha Bandhan
SEP	19	Pushya Nakshatra
OCT	3	Dussera
	16	Gurupushyamrit
	21	Dhanteras
	23	Laxmi Pujan
	24	Diwali
	25	Bahubij
NOV	13	Gurupushyamrit

Filed under Precious Metals, Tool Kit Tagged with auspicious days to buy gold, auspicious days to buy gold in 2014, Investing In Gold, postaday

Efficient Gold Investing

December 5, 2013 Leave a comment

In unsettled times, gold remains relevant. It is an asset of the last resort. It comes in handy in times of personal and social crisis. If you have amassed a fortune, it makes sense to geographically disperse it to ensure that all eggs are not in one basket. Moreover gold tends to be a good hedge against a depreciating currency and can be freely bought and stored abroad to be converted to any currency of choice as needed. A further plus is the lower gold rates abroad. So, for readers who have written in to ask about alternatives to BullionIndia, if you can deal with larger quantities of bullion,there is a better option: BullionVault.

The best gold and silver deals are listed on the international professional bullion markets—where most trade and government industries and banks trade—not the Mumbai Wholesale market. But this market only deals gold in 400 oz good delivery bars, which cost around $500,000(3crores) each. The silver bars weigh 1,000 oz. This puts the best prices out of reach of most private individuals. Further good delivery bars are stored in accredited vaults. The vaults have a high minimum monthly charge, so you would need about 15 of these 400 oz gold bars, worth around $7,000,000(43crores), to make it economic for you to open an account yourself. The large starting balance tends to make the system inaccessible to many private customers. With the help of online trading such as BullionVault, you’re able to obtain information from international gold markets and own gold bars. It’s a good thing that you’ll also enjoy cheaper prices in terms of storage. So whether you are purchasing or selling, expect to find top notch international gold prices. BullionVault offers none of the free storage and zero commission on sales that BullionIndia offers. But the small fees are reasonable if you are dealing with larger amounts. You will make back these small expenses in the better rates you get. Also you will be offered priceless security and guarantees. Read more of this post

Filed under Alternative Assets, Paper Assets, Precious Metals, Tool Kit Tagged with BullionIndia, bullionvault, currency conversion, diversification, gold asset of last resort, gold store of value, good delivery bars, Investing In Gold, investing in gold bullion, investing in silver, investing in silver bullion, online trading in gold, online trading in silver, postaday, SundayTimes TopTrack 250

Guilt Free Indulgence: Fine Jewellery And Antiques

November 28, 2013 3 Comments

The following is an article by Dylan,owner of The Gryphon’s Nest ,from Jerusalem,Israel ,a reader of wealthymatters. His words express my thoughts on fine jewellery and collectibles perfectly.

With consumer confidence waning as it tends to do when the economy is down or there is political unrest (the US federal government shutdown definitely qualifies) discussions generally turn to preserving wealth and tightening one’s belt to conserve. ‘Real money’ aka gold has started to become a hot topic again and with prices having retracted to 2010 figures it is looking more and more attractive.

What does this have to do with the collectible world? Well a lot actually. Many of my clients regularly buy high end jewelry and even though they don’t see it as such, they in fact have amassed quiet incredible collections that are valuable even merely as just scrap!

Whither Bullion In Samvat 2070?

November 4, 2013 Leave a comment

wealthymatters

Gold has offered negative returns for the first time in fifteen Samvat years.With a price decline of 0.5 per cent or Rs 140 on the last day of Samvat 2069 ( Saturday), standard gold price in Mumbai’s Zaveri Bazaar recorded a 4.7 per cent decline during the entire Hindu calendar year from the level of Rs 31775 per 10 grams a year ago.

Gold offered around 19 per cent returns in 2068 followed by a handsome over 25 per cent positive returns in the previous three years.

With the steepest fall in 15 years, silver with its close at Rs 49795 a kg, offered 20 per cent loss to consumers this year. The white precious metal had offered 14 per cent negative returns to buyers four years ago in 2064. Read more of this post