capital gain
This query is : Resolved
HARDIK.V.SHETH
(Querist)
16 December 2008
if gold is received after the death of father then at the time of selling how to consider the cost of the gold? please suugest if there is any case laws on that is it exempt if it is not possible to find cost? because it is received inheretence from grand father
CA Tilak Raj Sharma
(Expert)
16 December 2008
It is taxable.
further if you donn't know the cost, then you can take the market value of gold as on 01.04.1981.
further if you donn't know the cost, then you can take the market value of gold as on 01.04.1981.
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