Latest news with #Rs.83
Economic Times
12-05-2025
- Business
- Economic Times
Why people prefer exchanging their old gold, instead of buying new jewellery
Soaring gold prices are increasingly prompting Indian women to rethink traditional buying habits. Many are exchanging old jewelry, opting for smaller purchases, or exploring gold savings plans to manage costs. While these plans offer a structured approach, experts caution about risks associated with jeweler trustworthiness and urge customers to also explore other digital alternatives to buying gold. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Even as it is heartening for women to see their favourite shiny asset reward their faith, it is also making some rethink old ways. Gold prices at the retail level no longer offer the affordability to purchase high-value, finest-quality jewellery or coins. A 24-carat gold coin of 8 grams, which cost around Rs.55,000 on Akshaya Tritiya two years ago, is retailing at over Rs.83,000 now. Jewellery is even more expensive, with making charges adding 25-30% to the cost price. Women are no longer comfortable buying at this ticket size, prompting a shift in Chacko, Research Head, India, World Gold Council, observes, 'There has been a shift in consumer behaviour in response to soaring prices, with more buyers opting to trade in old jewellery for new. Anecdotal reports suggest that 40-45% of purchases now involve some form of exchange.'Many women are waiting for prices to dip, even letting auspicious days like Akshay Tritiya go by without buying gold . 'Unlike earlier, women are not necessarily stepping out to buy gold on the auspicious day if prices are elevated,' observes Joshi. Others are more comfortable buying gold of a lower ticket size, even if it is of lesser caratage. Kothari notes, 'The current gold buying sentiment is more cautious. Many women are opting for smaller, alternative purchases, more light-weight jewellery.'Some are turning to gold savings plans of jewellers to build towards a target outlay for purchasing gold. These schemes usually allow customers to deposit a fixed sum of money every month for a predetermined period, usually 11 months. At the end of the tenure, the customer can use the accumulated savings, plus any bonus offered by the jeweller, to purchase jewellery from the brand. For example, if you save Rs.5,000 monthly, you'll have accumulated Rs.55,000 after 11 jeweller adds another Rs.5,000 as the last instalment, giving you Rs.60,000 to spend in their store. Mathur has opted for a gold savings scheme with her trusted jeweller. 'Gold prices today do not allow the purchase of huge sets. With a gold savings scheme, I pay smaller amounts over time, and at the end I get a lump sum, add any differential, and buy the jewellery of my choice,' she Joshi flags risks in opting for such plans. 'Your money is at risk if the jeweller is not trustworthy,' he warns. Also, your money gets locked with the jeweller. Some jewellers have previously vanished with customers' savings or simply shut down. Besides, the bonus offered by the jeweller is just an illusion, as most jewellers mark up their making charges. Further, you are not protected from rising gold prices in these schemes, as your savings are in cash, not in suggests a systematic investment plan (SIP) in a gold mutual fund as a better alternative. Every rupee you contribute is linked to actual gold prices. You can exit at any time and are assured of getting your money back.
Time of India
12-05-2025
- Business
- Time of India
Why people prefer exchanging their old gold, instead of buying new jewellery
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Even as it is heartening for women to see their favourite shiny asset reward their faith, it is also making some rethink old ways. Gold prices at the retail level no longer offer the affordability to purchase high-value, finest-quality jewellery or coins. A 24-carat gold coin of 8 grams, which cost around Rs.55,000 on Akshaya Tritiya two years ago, is retailing at over Rs.83,000 now. Jewellery is even more expensive, with making charges adding 25-30% to the cost price. Women are no longer comfortable buying at this ticket size, prompting a shift in Chacko, Research Head, India, World Gold Council, observes, 'There has been a shift in consumer behaviour in response to soaring prices, with more buyers opting to trade in old jewellery for new. Anecdotal reports suggest that 40-45% of purchases now involve some form of exchange.'Many women are waiting for prices to dip, even letting auspicious days like Akshay Tritiya go by without buying gold . 'Unlike earlier, women are not necessarily stepping out to buy gold on the auspicious day if prices are elevated,' observes Joshi. Others are more comfortable buying gold of a lower ticket size, even if it is of lesser caratage. Kothari notes, 'The current gold buying sentiment is more cautious. Many women are opting for smaller, alternative purchases, more light-weight jewellery.'Some are turning to gold savings plans of jewellers to build towards a target outlay for purchasing gold. These schemes usually allow customers to deposit a fixed sum of money every month for a predetermined period, usually 11 months. At the end of the tenure, the customer can use the accumulated savings, plus any bonus offered by the jeweller, to purchase jewellery from the brand. For example, if you save Rs.5,000 monthly, you'll have accumulated Rs.55,000 after 11 jeweller adds another Rs.5,000 as the last instalment, giving you Rs.60,000 to spend in their store. Mathur has opted for a gold savings scheme with her trusted jeweller. 'Gold prices today do not allow the purchase of huge sets. With a gold savings scheme, I pay smaller amounts over time, and at the end I get a lump sum, add any differential, and buy the jewellery of my choice,' she Joshi flags risks in opting for such plans. 'Your money is at risk if the jeweller is not trustworthy,' he warns. Also, your money gets locked with the jeweller. Some jewellers have previously vanished with customers' savings or simply shut down. Besides, the bonus offered by the jeweller is just an illusion, as most jewellers mark up their making charges. Further, you are not protected from rising gold prices in these schemes, as your savings are in cash, not in suggests a systematic investment plan (SIP) in a gold mutual fund as a better alternative. Every rupee you contribute is linked to actual gold prices. You can exit at any time and are assured of getting your money back.
Time of India
05-05-2025
- Business
- Time of India
Gahlaut can save Rs 1.8 lakh tax by switching to new tax regime
Hyderabad-based data scientist Raghav Gahlaut is paying a high tax because his salary structure is not tax-friendly and he doesn't claim all deductions available to him. #Pahalgam Terrorist Attack India much better equipped to target cross-border terror since Balakot India conducts maiden flight-trials of stratospheric airship platform Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad Gahlaut has opted to stay in the old tax regime because he gets tax-free perks, has a big home loan, and puts money in tax-saving investments. 'I know I could have saved more tax by investing in the NPS , but there is no surplus after my big home loan EMI of Rs.83,000,' he says. Even without the NPS investment , he will pay a marginally lower tax if he switches to the new tax regime . His tax outgo will reduce by Rs.1,16,240. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Algeria (Take A Look At The Prices) Container House Search Now Undo More tax can be saved if Gahlaut asks his employer to offer him the NPS benefit under Section 80CCD(2). NPS benefit does not add to wage cost or paperwork for the company, but it lowers the tax outgo for employees significantly. Live Events If the company puts 14% of the basic salary in the NPS, Gahlaut will save Rs.65,520 more under the new tax regime. Gahlaut and his family are covered by group health insurance from the company, but he has bought a cover on his own as well. He will not get tax deduction for the medical insurance premium under the new regime, but he should not stop it. If he wishes to stay in the old tax regime this year, he should reduce the special allowance component by Rs.2,10,000, stop ELSS SIPs, reduce contribution to the PPF to Rs.1,000 a year, and invest in the corporate NPS instead. He should also switch from fixed deposits to debt funds to lower the tax outgo. The old regime is marginally better for Gahlaut this year. However, the new tax regime is better for him from next year onwards as he stands to save Rs.1,81,740 under the new regime. WRITE TO US FOR HELP Paying too much tax? Write to us at etwealth@ with 'Optimise my tax' as the subject. Our experts will tell you how to reduce your tax by rejigging your pay and investments .
Economic Times
05-05-2025
- Business
- Economic Times
Gahlaut can save Rs 1.8 lakh tax by switching to new tax regime
Live Events Hyderabad-based data scientist Raghav Gahlaut is paying a high tax because his salary structure is not tax-friendly and he doesn't claim all deductions available to has opted to stay in the old tax regime because he gets tax-free perks, has a big home loan, and puts money in tax-saving investments. 'I know I could have saved more tax by investing in the NPS , but there is no surplus after my big home loan EMI of Rs.83,000,' he without the NPS investment , he will pay a marginally lower tax if he switches to the new tax regime . His tax outgo will reduce by Rs.1,16, tax can be saved if Gahlaut asks his employer to offer him the NPS benefit under Section 80CCD(2). NPS benefit does not add to wage cost or paperwork for the company, but it lowers the tax outgo for employees the company puts 14% of the basic salary in the NPS, Gahlaut will save Rs.65,520 more under the new tax regime. Gahlaut and his family are covered by group health insurance from the company, but he has bought a cover on his own as well. He will not get tax deduction for the medical insurance premium under the new regime, but he should not stop he wishes to stay in the old tax regime this year, he should reduce the special allowance component by Rs.2,10,000, stop ELSS SIPs, reduce contribution to the PPF to Rs.1,000 a year, and invest in the corporate NPS instead. He should also switch from fixed deposits to debt funds to lower the tax old regime is marginally better for Gahlaut this year. However, the new tax regime is better for him from next year onwards as he stands to save Rs.1,81,740 under the new too much tax? Write to us at etwealth@ with 'Optimise my tax' as the subject. Our experts will tell you how to reduce your tax by rejigging your pay and investments.
