Capital Gain-- urgent doubt
This query is : Resolved
25 March 2009
hii frnds,,
our client sold jewellery in FY 2007-2008. She recd those jewelleries during her marriage... Hw would be d tax treatment????? my sir told tk 1981 for indexation. wht abt d cost???should i tk cost or market value?? pl help frnds...
Sangita..
our client sold jewellery in FY 2007-2008. She recd those jewelleries during her marriage... Hw would be d tax treatment????? my sir told tk 1981 for indexation. wht abt d cost???should i tk cost or market value?? pl help frnds...
Sangita..
CA. B.SRINIVASULU
(Expert)
25 March 2009
Check the date of marriage. If the marriage date is prior to 1981 then you have to take the price of 1981 ie as on 31-3-1981 given by income tax department for wealth tax purpose. If the marriage date is after 1981 and then you have to take the rate of that year (for eg 1990) (31-3-90) then indexation has to be applied for arriving at the capital gain.
CA Tilak Raj Sharma
(Expert)
25 March 2009
If the jewellery are purchased before 1981, then the cost or market value as on 01.04.1981 w.e. is higher after that apply the indexation.
If the above jewelleries are received in gifts, then take the cost of acquisition to the previous owner and also add the period of holding to the previous owner.
If the above jewelleries are received in gifts, then take the cost of acquisition to the previous owner and also add the period of holding to the previous owner.
25 March 2009
Dear Sangita,
Market value will be known by applying the provision of Wealth Tax Act.
Market value will be known by applying the provision of Wealth Tax Act.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
