The Income Tax Department has extended the last date for filing ITR for 2020-21 to December 31, 2021. While filing the return, you will be required to provide all the information from your earnings to investments. If you have invested in gold, it has to be disclosed while filling the ITR. Some say the taxpayer has to pay tax based on the way he invests in gold. Gold bonds will attract a different tax liability for those who invest in gold than those who buy physical gold. If you are going to file a return, don't forget to enter your gold holding by the end of December for 2020-21.

Physical Gold... Tax by Capital Gain: Let us tell you that within 36 months of investing in physical gold, selling it attracts short-term capital gain tax according to the slab. The return from the sale of gold is added to the annual earnings of the investor.  Not only that, if gold is sold after 3 years, it will be called long-term capital gain. It will be decided only on the basis of income from tax sales. It will have to pay 20 percent tax on the total valuation. In addition, 4 percent of the tax amount is cess.

Digital Gold... 20 percent tax: There is a new way of investing in digital gold, which is very much liked by people these days. In which investment is possible through different wallets and bank apps. You can invest in digital gold for a minimum of Rs. 1. In which long-term capital gains attract 4 percent cess and 20 percent tax on returns with surcharge. Keeping digital gold for less than 36 months does not directly tax returns.

Gold ETF... Cess will also have to be paid along with tax: Gold can also be invested in gold through Gold Mutual Fund and Gold Exchange Traded Fund (ITF). Gold is in virtual form and not physically. Both are taxed the same as physical gold. Investing in gold by gold mutual funds or ITF attracts 4 percent cess with 20 percent hand tax for long-term capital gains.

Sovereign Gold Bond... Tax to be paid according to slab:
Sovereign Gold Bonds (SGB) attract investors 2.5 percent interest per annum, which has to be taxed according to the slab. After 8 years of investment in SGB, the return of the investment becomes completely tax-free. After 5 years and at any time before reaching maturity, the holding is sold, it also attracts 20 percent long term capital gains tax and 4 percent cess.

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