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Capital gain implication

This query is : Resolved 
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(Querist)
16 December 2014 SIR,

I AM RECEIVED A GOLD AS GIFT. AND I WANT TO CONVERT INTO STOCK IN TRADE. THAN I CAN DO SO OR NOT. WHAT IS TAX IMPLICATION.
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Amol S Joglekar

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Amol S Joglekar (Expert)
16 December 2014 The gold gift will be treated as per the provisions of section 56 of the incme tax act.
For conversion of the same into stock in trade, you need to start a business in GOLD, so that you can convert the same into stock in trade.
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