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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 August 2011 Dear Experts,

Pls. clarify whether ancestral jewelary if sold liable to capital gain or not?
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CS Bijoy

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CS Bijoy (Expert)
30 August 2011 Jewelary is come under wealth of the assesee so it is liable to wealth tax.

but in case of sale if its shown in the b/s than capital gain tax will come.
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