Capital gains tax on sale of gold ornaments.
This query is : Resolved
Quick Summary
07 February 2020
I have old gold about fifty year back no bills.about 100 gms.
If I sale now , what will be treatment for capital gains tax.
If I sale now , what will be treatment for capital gains tax.
CA R SEETHARAMAN
(Expert)
07 February 2020
Consider market price of gold as on 1st April 2001 and apply indexation to arrive at the cost.
Message likes :
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07 February 2020
thanks very useful.
whether deduction of basic limit will also be available since my income is below taxable limits.
whether deduction of basic limit will also be available since my income is below taxable limits.
CA R SEETHARAMAN
(Expert)
07 February 2020
Yes available.............................
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