Gold can be bought in many forms—physical gold like jewellery and coins, digital gold, gold exchange-traded funds (ETFs), sovereign gold bonds (SGBs), and gold mutual funds. Each form offers different benefits in terms of safety, returns, and convenience. However, their tax treatment also varies significantly because of the several changes made in past financial years. This can affect your overall returns. While physical or digital gold can attract capital gains tax, gold ETFs and paper gold forms may offer indexation benefits or tax exemptions under certain conditions. Understanding how each form of gold is taxed can help investors make smarter choices and plan better for long-term wealth creation and savings.