Gold valuation
This query is : Resolved
Anand Modi
(Querist)
21 January 2012
Dear Sir,
I want to know the calculation of Capital gain in case of gold is sold which was purchased in marraige of my grand mother i.e. before 01.04.1981.
Please give an example asap.
Thanks and Regards
I want to know the calculation of Capital gain in case of gold is sold which was purchased in marraige of my grand mother i.e. before 01.04.1981.
Please give an example asap.
Thanks and Regards
CA.Vinita Gupta
(Expert)
21 January 2012
Sale Consideration Less Indexed Cost of Acquisition of Gold, Since it is purchased before 01.04.1981 so either actual cost on the date of purchase or FMV as on 01.04.1981 can be considered
CA Nikhil Jhanwar
(Expert)
21 January 2012
To add:
Example
Total Sale Consideration: 1000000
Less: Expenses on transfer: 10000
Less: Indexed Cost of Acquisition:
Actual Cost 50000
FMV on 01.04.1981 75000
Higher(more beneficial) 75000
CII 1981-82: 100, 2011-12: 785
75000*785/100= 588750
Long term Capital Gain: 401250
Example
Total Sale Consideration: 1000000
Less: Expenses on transfer: 10000
Less: Indexed Cost of Acquisition:
Actual Cost 50000
FMV on 01.04.1981 75000
Higher(more beneficial) 75000
CII 1981-82: 100, 2011-12: 785
75000*785/100= 588750
Long term Capital Gain: 401250
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
