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Capital gains tax on sale of gold ornaments.

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SHRMONEY (Querist)
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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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 February 2020 Consider market price of gold as on 1st April 2001 and apply indexation to arrive at the cost.

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SHRMONEY (Querist)
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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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 February 2020 Yes available.............................

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