Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 April 2012
DEAR EXPERT
I WANT TO KNOW WHTHER IT WILL BE LIABLE FOR CAPITAL GAIN OR EXEMPT.
SALE OF JEWELLARY OF WOMEN RECEIVED AT THE TIME OF MARRAIGE 25 YAERS BACK.
I WANT TO KNOW WHTHER IT WILL BE LIABLE FOR CAPITAL GAIN OR EXEMPT.
SALE OF JEWELLARY OF WOMEN RECEIVED AT THE TIME OF MARRAIGE 25 YAERS BACK.
06 April 2012
Dear,
As per my opinion firstly you have to get valuation report for gold jewellary from valuer for respective year after that apply cost inflation Index and find the capital gain
As per my opinion firstly you have to get valuation report for gold jewellary from valuer for respective year after that apply cost inflation Index and find the capital gain
Message likes :
1 times
06 April 2012
Yes it came under capital gain tax.
Message likes :
1 times
06 April 2012
yes it will be chargeable to capital gain tax. and indexation benefit will be available
06 April 2012
Jewellery is a capital asset as defined in Section 2(14).
Accordingly capital gain shall arise on the sale of jewellery.
The gain will be long term or short term depending on the period of holding.
If the asset is held for 36 months or more, it will be long term capital gain/loss and if it has been held for a period of less than 36 months, then it will be short term capital gain/loss.
Accordingly capital gain shall arise on the sale of jewellery.
The gain will be long term or short term depending on the period of holding.
If the asset is held for 36 months or more, it will be long term capital gain/loss and if it has been held for a period of less than 36 months, then it will be short term capital gain/loss.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Itr 1 processing
- Bank Accounts in Balance Sheet for ITR 3
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
