Sale of gold

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2017 If X sale the gold to purchase the house property and fully utilise the amount of sale of gold fully to purchase the property, what are income tax implications of the same?

Do X needs to pay Capital gain tax on sale of gold?
Will gst applicable to seller who is unregistered ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 September 2017 1 capital gains on sale of gold is exempt u/s 54F on the purchase of house if X has already not more than one house.
2 GST not applicable

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