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    Case ID :

    Gold Monetization Scheme: Deposits by Temple/Religious Bodies

    May 7, 2016

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    Eight (08) temples have deposited gold under Gold Monetization Scheme, 2015 so far and the State-wise details are as under:

    Name of the State

    Number of temples deposited gold under GMS

    Tamil Nadu

    04

    Maharashtra

    02

    Andhra Pradesh

    01

    Jammu and Kashmir

    01

    The Government does not intend to make it mandatory for temples to deposit in the scheme at any point of time in the future. Government have allowed redemption of long term and medium term deposits in the form of gold land the guidelines to this effect has been issued by RBI on 31st March, 2016.

    This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha.

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    ActsIncome Tax