Yes! Gold is a capital asset therefore sale of gold will be subject to short-term capital gains or long-term capital gains depending upon the number of months you have held the gold / jewelry.

• SHORT TERM CAPITAL GAINS: is applicable when gold is sold within 24months from the date of its purchase, the profit portion on sale will be treated as income at the prevailing IT slab rates depending on the male / female assesse  & also the old or new regime you have opted for as per the Income Tax Act.

• LONG TERM CAPITAL GAINS: is applicable when gold is sold after 24months from the date of its purchase, the profit portion on sale will be treated as income and will be taxed at 12.5% + surcharges as per the Income Tax Act.

*Note: The laws are subject to change, please consult your CA for any new updates