Gold has been the second most preferred investment option among the Indians after deposits in banks, according to a SEB of India study. If you want to buy gold for purely for an investment, then buying gold coins/bars is good option compared to Jewellery.
Gold coins and bars are an attractive investment option, unlike jewellery, which involves making charges and wastage.
Since there is no income as such from holding gold, there is no liability of income tax. But bullion and jewellery are subject to capital gains tax and wealth tax, without any exemptions whatsoever.
Where to Buy gold bars and coins