Income form sale of gold
This query is : Resolved
DEVENDER THAKUR
(Querist)
14 June 2018
If an Individual has sold his old Gold Jewellery during the F.Y 2017-18 and received and consideration. does it need to be mentioned in the ITR to be filed for the relevant A.Y ???? Respected Experts ! Please guide ......
Nikhil Kaushik
(Expert)
14 June 2018
no. it is a sale of personal effects.
Vishakha Kejriwal.
(Expert)
14 June 2018
Capital assets as defined u/s 2(14) of the IT Act includes jewelry used for personal purposes and hence would be subject to capital gains and hence merit disclosure.
Nikhil Kaushik
(Expert)
14 June 2018
my mistake. kindly ignore my reply and go by the response given by the other expert.
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