 |
| |||
Dear ck.kislay,
You are subscribed to the thread "Indian Stock Advice Trading Strategies Trends Market Predictions & Regulations" by pcpune, there have been 3 post(s) to this thread, the last poster was ukdoctor.
https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/9993-indian-stock-advice-trading-strategies-trends-market-predictions-regulations
These following posts were made to the thread:
https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/9993-indian-stock-advice-trading-strategies-trends-market-predictions-regulations
Posted by: revhappy
On: November 8 2017 06:52 AM
[QUOTE=ukdoctor;n2564303][QUOTE=atwitsend;n2564230][QUOTE=revhappy;n2564206]@ukdoctor, gold allocation is only 10%, it is really portfolio insurance and not an allocation. Debt should be used to rebalance when equities fall. Gold should never be sold. It is like the family silver, literally in this case. Imagine you rebalance too early and markets are decimated. You need that that gold 10% in absolute quantity and not really percentage. Because that 10% can become 100% in the worst case. So you want to hold it tight. [/QUOTE] You are right and that is also the reason to hold it physically(same for the house you live - [USER="195423"]humblefool[/USER] will enjoy reading this and probably write another big composition) and not in digital format. All this portfolio dance should be done with debt and equity rebalancing.[/QUOTE]Main issue I have with large holding of physical gold ( I am talking about more than a few 100 grams ) is that it is difficult to prove the source of it even if bought with white money . A bill is useless as most good bullion in India does not have a serial number . A relative of mine had an IT raid (all white money by the way ) and they confiscated his bullion holdings. The only thing that saved him was that he had imported the gold from overseas ( Ex NRI but now spends time between UK and India)and had customs papers etc to back up his source of gold. It also helped that the gold was a mix of metal or and PAMP 100 g bars which had been imported to India after paying necessary taxes. The bars have a serial number and he had all the paperwork to prove that he bought it using his UK account.. The serial numbers were on the bills and the IT department could not justify holding on to it after he provided the paperwork.. I doubt if things would have been so smooth if the paperwork wasn't so complete.. [/QUOTE]I also have the same fear and until I find a way to hold physical gold in a clear non ambiguous manner to prove that it is white, I will hold in ETF form.
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/9993-indian-stock-advice-trading-strategies-trends-market-predictions-regulations
Posted by: atwitsend
On: November 8 2017 10:26 AM
[QUOTE=ukdoctor;n2564303]Main issue I have with large holding of physical gold ( I am talking about more than a few 100 grams ) is that it is difficult to prove the source of it even if bought with white money . A bill is useless as most good bullion in India does not have a serial number . A relative of mine had an IT raid (all white money by the way ) and they confiscated his bullion holdings. The only thing that saved him was that he had imported the gold from overseas ( Ex NRI but now spends time between UK and India)and had customs papers etc to back up his source of gold. It also helped that the gold was a mix of metal or and PAMP 100 g bars which had been imported to India after paying necessary taxes. The bars have a serial number and he had all the paperwork to prove that he bought it using his UK account.. The serial numbers were on the bills and the IT department could not justify holding on to it after he provided the paperwork.. I doubt if things would have been so smooth if the paperwork wasn't so complete.. [/QUOTE] Is the bill useless even if has VAT paid and you have an associated transaction amount for the record ?
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/9993-indian-stock-advice-trading-strategies-trends-market-predictions-regulations
Posted by: humblefool
On: November 8 2017 10:42 AM
[QUOTE=ukdoctor;n2564303]Main issue I have with large holding of physical gold ( I am talking about more than a few 100 grams ) is that it is difficult to prove the source of it even if bought with white money . A bill is useless as most good bullion in India does not have a serial number . A relative of mine had an IT raid (all white money by the way ) and they confiscated his bullion holdings. The only thing that saved him was that he had imported the gold from overseas ( Ex NRI but now spends time between UK and India)and had customs papers etc to back up his source of gold. It also helped that the gold was a mix of metal or and PAMP 100 g bars which had been imported to India after paying necessary taxes. The bars have a serial number and he had all the paperwork to prove that he bought it using his UK account.. The serial numbers were on the bills and the IT department could not justify holding on to it after he provided the paperwork.. I doubt if things would have been so smooth if the paperwork wasn't so complete.. [/QUOTE] I hope to be rich enough someday to invite a IT raid :D If you have that kind of Moolah, one wonders why haven't you whitened it already or put it in a trust.
With warm regards,
Team IREF
With warm regards,
Team IREF
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Unsubscription information:
To unsubscribe from this thread, please visit this page:
https://www.indianrealestateforum.com/member/77913-ck-kislay/subscriptions
0 comments:
Post a Comment