Exchange of old gold jewellery capital gains applicable


This query is : Resolved 

Quick Summary
This discussion explores whether capital gains tax applies when exchanging old gold jewellery for new. Specifically, it questions if tax is levied on the sale value of the old jewellery (Rs. 3 lakhs) when purchasing new jewellery worth Rs. 4 lakhs, and how this is treated under the Income Tax Act.

10 July 2021 Sir,
It female assess exchange of old gold jewellery value rs:3 lacs after purchase of New gold jewellery value rs:4 lacs.
Question:
Assess exchange of old gold jewellery after purchase of new gold jewellery capital gains applicable in it act.

10 July 2021 They will raise purchase and sale bill separately so capital gains applicable on sale value.

11 July 2021 Applicable on sale value of Rs. 3 lakhs


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