Selling old gold
This query is : Resolved
01 October 2025
What are the tax and financial implications when selling old gold held more than 10 years?
01 October 2025
Proper documentation (bills or valuation by a registered valuer) is necessary, especially for gold inherited or purchased decades ago, for claiming acquisition cost and smooth tax filing.
If inherited, holding period is generally counted from initial acquisition (by the person from whom inherited); sale after two years of original purchase triggers LTCG.
Gold held for more than two years (after July 2024) is considered long-term.
LTCG from gold sale is taxed at a flat rate of 12.5% on the gains, without indexation benefit.
If purchased before April 1, 2001, the fair market value (FMV) as of this date is considered the cost of acquisition.
The sale proceeds, purchase/acquisition history, and calculation details of the gains should be clearly provided; for inherited gold, the original cost or the April 1, 2001 fair market value may be applied.
If inherited, holding period is generally counted from initial acquisition (by the person from whom inherited); sale after two years of original purchase triggers LTCG.
Gold held for more than two years (after July 2024) is considered long-term.
LTCG from gold sale is taxed at a flat rate of 12.5% on the gains, without indexation benefit.
If purchased before April 1, 2001, the fair market value (FMV) as of this date is considered the cost of acquisition.
The sale proceeds, purchase/acquisition history, and calculation details of the gains should be clearly provided; for inherited gold, the original cost or the April 1, 2001 fair market value may be applied.
03 October 2025
Good Luck.....
04 October 2025
Thanks Dhirajbhai.. very precise and helpful…
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