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UNion Finance government minister Nirmala Sitharaman on lord's day proclaimed in her Budget 2026 voice communication that an freedom from capital gains for Sovereign Gold Bonds (SGBs) will be given to only those who have bought the SGB at the primary issue."It is proposed to provide that the exemption from capital gains tax in respect of Sovereign Gold Bonds shall be available only where such bonds are subscribed to by an individual at the time of original issue and are held continuously until redemption on maturity," Sitharaman said while presenting the Union Budget 2026."It is also proposed to provide that this exemption applies uniformly to all issuances of Sovereign Gold Bonds by the Reserve Bank of India."Deepak Shenoy, founder and CEO of Capitalmind, was among those who reacted to the announcement on the paper-based alternative to physical gold."Holy moly! If you buy SGBs in the market (not from primary issuance) you will pay full tax on capital gains when the bond is redeemed! This is from April 1, 2026. Very negative for SGBs if you have bought in the market," the Bengaluru-based CEO wrote on X.Take a look at Capitalmind CEO Deepak Shenoy's reaction: What are Sovereign Gold Bonds (SGBs)?Sovereign Gold Bonds are a digital alternative to buying or holding physical gold and are issued by the Reserve Bank of India (RBI). SGBs are denominated in grams of gold, with each bond unit representing one gram of gold.Nirmala Sitharaman delivers her ninth Budget speechNirmala Sitharaman presented her ninth consequitive Budget and the third annual budget of the BJP-led NDA government in its third term in office. The Finance Minister made a slew of announcements on a range of sectors, including agriculture, finance, health, employment, industry and tourism.(Also Read: Sena UBT's Priyanka Chaturvedi correctly 'predicted' Nirmala Sitharaman's saree choice for Budget 2026)

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'Holy moly!': Bengaluru CEO reacts to Budget 2026 announcement on Sovereign Gold Bonds (SGB)

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