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Gold ornaments sale

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(Querist)
11 November 2015 I am a Lady & want to sale my old Gold ornaments having total weight of 700 Grams & create cash which i want to deposit into my saving account
Is it valid under Income Tax.
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Amol S Joglekar

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Amol S Joglekar (Expert)
11 November 2015 yes, no issues. (In most of the cases, however, goldsmiths pay cheque. If you are getting cash, no issues.)

Don't forget to compute capital gain and pay the taxes, if any.
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Prakash Kochar

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Prakash Kochar (Expert)
12 November 2015 MAY HAVE TO PROVE THE ACQUISITION SOURCE & PROVE THE HOLDING.




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