Gold
This query is : Resolved
24 July 2012
i have a gold around 15 tolas now i want to sale it on current rate- shall i have to pay tax on it or any exemption about self use gold ornaments- urgent
24 July 2012
Gold Jewelry, Ornament, Painting sculpture are not a goods of personal effect hence any profit or gain arising after sale of these things is taxable as capital gain in the hand of taxpayer. U can claim an exemption u/s 54EC Within a period of 6 months after the date of transfer, the capital gain must he invested in the specified assets i.e. bonds redeemable after 3 years issued by NHAl or RECL.
Note; there should be Long Term Capital Gain.
Exemption upto Rs 5000000 (50 Lakhs) per financial year.
Note; there should be Long Term Capital Gain.
Exemption upto Rs 5000000 (50 Lakhs) per financial year.
Message likes :
1 times
24 July 2012
Agreed with the Reply
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
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- Banking Related Issue
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Loss of interest in PF transfer from EPFO to Trust
- Sale of Mutual Funds In Diffirent Financial Years
- Query regarding reporting of exempt foreign remuneration in ITR
- Taxability of credit in canara bank ET & T section (NRO)
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
