20 September 2021
Recently a person from USA contacted me to sell Mahatma Gandhi 1 rupee coin which was released by government of India in year 1969. He offered me 3 lakh US dollars for bunch of coins. which is 2crore 20 lakhs approx in our country. I also want to clarify you that Iam not a regular seller of this coins I just had bunch of coins at my home, even I too dont know where they are from. I just want to know answers for this questions . 1) Is this sale of old coins legal or illegal ? 2)If legal can i send this through Indian post courier service ? 3)How will you suggest him to transfer money ? 4)How much tax should be paid to government after he transfer money to my account ?
21 September 2021
1 It's legal. 2 Send it through blue dart, with insurance. 3 Transfer through banking channel. 4 20% tax with cess and surcharge payable as tax on capital gains.
CAclubindia
