Income tax on gold ornament sale
This query is : Resolved
11 November 2015
I purchased gold 100 gms bar on 01-10-2015 for Rs. 255000/- & sold the same on 05-11-2015 for Rs. 280000.
There is a Short Term capital gain of Rs. 25000/-
I do not have any other Income In the financial Year 2015-16.
Is there any Income tax i am required to pay.
Please answer.
Thanks
There is a Short Term capital gain of Rs. 25000/-
I do not have any other Income In the financial Year 2015-16.
Is there any Income tax i am required to pay.
Please answer.
Thanks
12 November 2015
Not required to pay any income tax if you don't have any other income.
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