Tax rules on gold sales reinvested into new gold purchases
According to an Upstox report, any gains made from selling gold are taxable, even if you immediately use that money to purchase new jewelry. This is because the sale and the subsequent purchase are viewed as two distinct events. Tax is applied only to the profit earned, rather than the total sale value. If you hold the gold for more than two years before selling, the profit is subject to a 12.50% tax rate.
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