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Income from Selling of Digital Gold

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Deepal Patel

Sr. Executive - Accounts & Audit

43 Points Posted on 05 March 2020

Hi All,

As per the income tax act on selling of Digital Gold before 3 year is short term gain which tax according to income tax slab and after 3 year this will be consider as long term and tax as per indexation. I am confuse that if i sell Digital Gold before 3 year So, which head of income and ITR form is applicable while filling return, because tax is calculated as per income tax slab not as per capital gain.

Replies (3)

Quick Summary

Selling digital gold results in capital gains, taxed as short-term if sold within three years and long-term thereafter. Short-term gains are taxed at your individual income tax slab rate, not a special capital gains rate. You should declare these gains under the Capital Gains schedule (Schedule CG) in either ITR-2 or ITR-3, depending on your overall income.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121521 Points Posted on 07 March 2020

Its capital gain only, but short term.

So, it should be declared in Schedule CG in ITR2 / ITR3, whichever applicable.

Spurto Consultancy Services

Consultant

1366 Points Posted on 07 March 2020

The profit/Loss will be considered under the head Capital Gain. It will be short term capital gain. The rate of tax applicable on this gain will be that of your income tax rate. No special rate of tax will be applicable.

ITR 2 or ITR 3 will be applicable based on your total income.

Fahad Shakeel

Head

93 Points Posted on 13 November 2021

Selling digital gold can be sold at the click of a button. There is no tax that you have to pay on selling of digital gold other than long term gain tax. Depending on your income bracket, it’ll come under Income Tax Return 2 (IRT2), or Income Tax Return 3 (IRT3). Be sure to file it on time.

for more visit : www.indiainfoline.com/digital gold