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Digital gold buy

Darshan Pateliya (1 Points)

19 June 2021

after selling physical gold if digital gold buy thencg of physical gold is still taxable??

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3 Replies

Ankit Neema (2742 Points)
Replied 20 June 2021

I think yes it is taxable

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Fahad Shakeel (Head) (220 Points)
Replied 13 October 2021

Buying digital gold will attract a service tax(GST) of about 3%. Buying ETFs, commodities, and physical gold are also taxable. But buying digital gold is still beneficial because the digital gold you get is 24k carat pure gold that comes without any making charges or any other wastage charges. security for any loan as it provides value back by the US dollars.

https://www.indiainfoline.com/digitalgold

Swastik Samal (6 Points)
Replied 08 October 2023

In India, buying digital gold after selling physical gold is subject to taxation. The gains from selling physical gold are considered capital gains and are taxable. The purchase of digital gold online via platforms like Muthoot Fincorp One is also subject to taxation when you sell it and make a profit. It's important to report these transactions accurately in your income tax returns and consult a tax expert for specific details on taxation rates and regulations.