22 September 2020
Sir I want to know that: I received the gold in inheritance and some jewellery as per my share according to will after death of mother. if I sell the same then Capital Gain come into existence or not. Can I directly increase my capital? Pl advise. Regards
22 September 2020
Capital Gain is applicable on sale of inherited gold is taxable. it is advisable to maintain proper documentation to show that the gold is received in inheritance. If the gold is held for more than 36 months, profits are treated as long term and taxed at flat 20%. Else, they are taxed as short term at your slab rate.
25 September 2020
Hello I got in inheritance and the purchase was in 1965. What will be year of acquisition for me. Is it 1965 or 2020 or 2001 valuation date. How can I calculate gain on sale of gold and jewellery. Pl advise
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