Tax Liabilty on Gold
This query is : Resolved
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Type of Capital Gain
- Error in uploading Form 10BD
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Difff in ais receipts and gst turnover
- Grand in aid
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
