If you are a taxpayer and are investing in gold, then it is very important to know the tax rules related to it. While purchasing gold, 3% GST and 5% GST are to be paid on the making charge of jewelery. That means a total of ₹ 3,500 GST will have to be given on jewelery of ₹ 1 lakh. At the same time, when you sell gold, you have to pay a capital gains tax on the profits made on it. If you sold gold within 24 months, it will be considered as a short-term capital gains (STCG) and will be taxed according to your income tax slab. After selling after 24 months, it becomes long-term capital gains (LTCG), which levies 12.5% tax with indexation. If you are a retail investor, then tax can also be saved from long term investment and returns will also be good.
Be Smart Investor – Know Tax Tricks of Gold Investment! | Paisa Live | Be a smart investor – Know the tax tricks of gold investment!
