Need information about tax for gold purchased

gold whether in physical form or ETF are capital assets as defined u/s 2(14) of the act and hence buying the gold does not attract any taxes (obviously) but selling it within 36 months attracts STCG and after 36 months attracts LTCG.

Personal suggestion would be buy gold in various denominations.

thanks for the prompt reply - what about Wealth tax while this gold is being held? Does gold being a physical asset attract wealth tax and how does wealth tax work?

Hi, 

in last FY i buy Physical gold of amount 225000 and then sell it in 3 month at price 200000. 

So i sell it in loss of Rs25000 can I show this in my short term loss and add it in Loss cary forward ??

if so under which section?

please help.