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Tax impact

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2011 If a person sells the gold of his wife received by his wife on marriage

and husband wants to introduce the money in his existing business as capital.

What will be the tax implicatins?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
19 September 2011 Gold is a capital asset and hence liable to be taxed as capital gains.

If amount is introduced as loan from wife then no problem.
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