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Agriculture land by selling/loan gold

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(Querist)
11 December 2011 Hi,
My mother had got gold jewellery during her marriage.Can she sell or take gold loan from muthoot on that gold and buy an agriculture land and if Gold loan than interest paid on that gold loan is tax free or not
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
11 December 2011 your mother has to pay the gold loan's interest, where the question arise the interest free.
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lala

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lala (Querist)
11 December 2011 If after Some years she settled off gold loan from muthoot then whether the land bought is calculated as her asset or not



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CA Hardik Bunha

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CA Hardik Bunha (Expert)
11 December 2011 My friend it is an EXPENSE then no matter for tax free or not.

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