New Delhi, Sept. 19 -- Gold has delivered a higher return than the Nifty 50 over the past 20 years. But for investors, the amount they ultimately take home depends not just on how much the investment has grown, but also on the capital gains tax applicable when it is sold.

Here's what you need to know about post-tax returns.

Suppose an investor had invested a lump sum of Rs.1 lakh in both asset classes 20 years ago and held both investments until today.

Based on the 20-year annualised returns, the investment would have grown to:

The tax treatment is different for the two investments.

The Nifty 50 ETF is treated as an equity-oriented product for capital gains taxation. If held for more than one year, the gain is generally treated as lo...