Tax Liabilty on Gold
This query is : Resolved
RIMPI SINGHAL
(Querist)
18 June 2010
Hi All,
My client purchased gold in 1998. Now I want to sale that Gold bt don't want to pay tax...
Wht are possible ways so that Gold can be sold and not to pay tax....
My client purchased gold in 1998. Now I want to sale that Gold bt don't want to pay tax...
Wht are possible ways so that Gold can be sold and not to pay tax....
18 June 2010
No, there is no way so that gold can be sold and tax is not paid.
If client is hold gold as stock in trade, then there will be business profit taxable under PGBP.
if Client hold it as invesment as asset, then there will be long term Capital gain.
after indexation of cost of gold.
If client is hold gold as stock in trade, then there will be business profit taxable under PGBP.
if Client hold it as invesment as asset, then there will be long term Capital gain.
after indexation of cost of gold.
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