It depends on how you use the form. If you use it as part of a verb phrase as in "I'm walking today" or "I was reading yesterday," then that would be considered part of the progressive tense--both past and present. But if you treat it as a noun like in "Reading is important for cognitive development," then it would be considered a gerund. When asking about grammar (note the gerund "asking"), you need to consider the follow aspects: form (how the word looks), meaning (what the word means/signifies), and use (how people use the word).
Jacob
Afzal S.
Nice Explanation06/27/21