Selling gold after price rise: Have you factored in capital gains tax you will have to pay? Know how you will be taxed on selling Rs 10 lakh worth of gold

When selling old gold jewellery, be aware that it comes with capital gains tax and Goods and Services Tax implications. Long-term capital gains tax is set at twelve point five percent, while short-term gains are taxed according to your income tax slab. The net proceeds from these sales are diminished after considering the purchase cost and holding duration, making it vital to factor in these taxes.