Capital Gain on sale of old gold

yogesh sheth (director) (94 Points)

24 May 2011  

Dear Experts,

I am having 250 grams(Appx) of gold jewellary recived from my ancestor and intending to sale it off to realise cash and use for my business purpose. Now I want to know that  how much capital gain I will  have to pay for the same. I do not posses any document for accuisition cost as the same is more than 30-40 years old  hence how to calculate the total capital gain kindly suggest. Awaiting anearly reply from experts as well as senior boarderss.

Thanking you,

Yours faithfully,

YOGESH SHETH