Income tax rules on sale of physical gold, gold mutual funds, Sovereign Gold Bonds
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New Delhi, Nov. 22 -- Profits on selling gold attracts income tax. The taxation rules depend on the form of gold redeemed. We can purchase gold in multiple ways -- Physical gold via jewellery or coins, gold mutual funds or gold Exchange Traded Funds (ETFs), smart or digital gold and Sovereign gold bonds (SGBs) issued by the RBI. There is a slight difference in the way the capital gains on sale of different forms of gold, as mentioned above are taxed. Read on to know the income tax implications on sale of gold.
Income tax rules for capital gains on sale of physical gold
Capital gains on selling physical gold jewellery and coins follow the same taxation rules as that of capital gains in debt funds. The short-term capital gains will be add...
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