26 December 2012
HI to all i have a gold costing rs. 255000 which i want to sale right now which i got as a gift from my family is it is taxable if now i will sale it
27 December 2012
Yes, the gain on it shall be taxable in your hands and the cost of such gold shall be consider the cost to the previous owner(i.e purchase cost of your family member those who given gift to you).