Marriage gift jewelery on capital gain working
This query is : Resolved
20 January 2023
sir
A marriage on 1990. she get gift jewelry 700 grms from his father. A Decided sale of 450 gram jewelry onJan 2023.
1. It is applicable long term capital gain
2. Pl. guide of working on capital gain method.
3. Limit of sales of jewelry on capital gain.
thanks
A marriage on 1990. she get gift jewelry 700 grms from his father. A Decided sale of 450 gram jewelry onJan 2023.
1. It is applicable long term capital gain
2. Pl. guide of working on capital gain method.
3. Limit of sales of jewelry on capital gain.
thanks
20 January 2023
1. Yes
2. Take Cost of the jewelry as on 01.04.2001. Multiply it by 3.31 (say "X"). Any excess amount received on the sell, over the amount X will be LTCG.
3. No limit.
2. Take Cost of the jewelry as on 01.04.2001. Multiply it by 3.31 (say "X"). Any excess amount received on the sell, over the amount X will be LTCG.
3. No limit.
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20 January 2023
Also please beware of the GST Applicability since the value of sale might cross the exemption limit.
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