Capital gain on gold
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 December 2012
Capital gain on on sale of gold is taxable.But if I make new jewellery of say 20 gms but instead of paying for full i give away 15gms of my old jewellery and write a cheque only for the remaining 5 gms then how do I account for this transaction???
Will the gold of 15gms transferred amount to sale and I will have to pay capital gain tax on it???
Will the gold of 15gms transferred amount to sale and I will have to pay capital gain tax on it???
Amol S Joglekar
(Expert)
18 December 2012
No. It is not transfer. The additional charges paid by you shall be capitalised.
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