Selling inherited or gifted gold? You should know the tax rules
Gold can be held in physical form as jewellery, coins and bars, among others.
The precious metal is a capital asset, so you need to pay tax on any capital gains you earn.
Most of us hold some amount of gold in the physical form, which we may have inherited or received as a gift from our parents or relatives. If you are facing a liquidity crisis and thinking of selling it as gold prices hit historic highs, you should keep the tax aspect in mind.