Long term cap gain on sale of gold, how to show?

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When reporting long-term capital gains from selling gold in your Income Tax Return (ITR), you need to declare the full details of the transaction. This includes the quantity in grams, purchase date, cost of acquisition, and sale date. Remember that the grandfathering benefit under Section 112A of the IT Act specifically applies to shares, not gold. You should declare the total purchase cost along with indexation benefits.

Kunjan

Kunjan (Querist)
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29 June 2024 FOR LONG TERM GAIN ON GOLD -->
DO WE HAVE TO DECLARE just THE AMOUNT OF long term GAIN
OR
WE HAVE TO DECLARE IN DETAIL in itr (i.e. GRAMS, DATE OF PURCHASE, cost of purchase, DATE OF SALE ETC? )

MY VIEW-->declare full details including grams
(script wise notification for grandfaher capital gain is only for shares not for gold)