Gold ornaments sale
This query is : Resolved
basant jain
(Querist)
11 November 2015
I am a Lady & want to sale my old Gold ornaments having total weight of 700 Grams & create cash which i want to deposit into my saving account
Is it valid under Income Tax.
Is it valid under Income Tax.
Amol S Joglekar
(Expert)
11 November 2015
yes, no issues. (In most of the cases, however, goldsmiths pay cheque. If you are getting cash, no issues.)
Don't forget to compute capital gain and pay the taxes, if any.
Don't forget to compute capital gain and pay the taxes, if any.
Prakash Kochar
(Expert)
12 November 2015
MAY HAVE TO PROVE THE ACQUISITION SOURCE & PROVE THE HOLDING.
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