Gold recieved on marriage

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suyash (Querist)
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29 December 2011 if a person Receives gold jewellery on his/her marriage (before 20 yrs).but he/she has not shown that jewellery in any of his/her return and today he/she wants to sell that jewellery. Wont the income from such sales would be treated as undisclosed jewellery by the taxman for Previous yearss

please clear my query..thank you in advance

Mahesh Paryani

Mahesh Paryani (Expert)
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29 December 2011 Yes it would treated as undisclosed income.

if situation was otherwise.
you could have revised the return and clamed it. but in your case you cannot revise return to that extent and it would be difficult to explain the same.

suyash

suyash (Querist)
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29 December 2011

So how shall this undisclosed income be now disclosed in that individuals file..

Mahesh Paryani

Mahesh Paryani (Expert)
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29 December 2011 I would suggest you to approach a professional personally to understand facts of the case.

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