close x
Home > Experts > Income Tax > Capital gain on sale of gold

Please Wait ..

to your account


Remember Me | Forgot your password?


Sign-up now

Join and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.

Alternatively, you can log in using:

Capital gain on sale of gold (Income Tax)

Report Abuse
This query is : Resolved

( Querist )
31 August 2013

Our client has sold gold in the financial year 2012-13 for Rs. 10,00,000/-. The gold was purchased in the year 2005 for Rs. 6,00,000/-. The client has purchased new gold for Rs. 9,00,000/- one month after sale of old gold.

Kindly advise for capital gain.

CA Siddhartha Bhardwaj

( Expert )
31 August 2013

Long term capital gain will arise.

Rs. 6 lakhs will be indexed and reduced from Rs. 10 lakhs.

The resultant amount will be long term capital gain/loss.

Purchase of new gold is of no consequence.

LTCG will be taxable @ 20%.



You need to be the querist or approved CAclub expert to take part in this query .

Click here to login ( Members Login ) now

Similar Resolved Queries :


Quick Links

back to the top