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Tax treatment on sale of inherited jewellery

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 December 2009 What is the tax treatment of money received from sale of family jewellery
inherited or gifted on the occassion of marriage?
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KRISHNA KUMAR R C

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KRISHNA KUMAR R C (Expert)
17 December 2009 it is liable to tax under the head "Capital Gains".
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Querist : Anonymous

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Querist : Anonymous (Querist)
17 December 2009 What would be taken as the cost of acquisition, where a lot of inherited jewellery sold together
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Pawan Jajoo

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Pawan Jajoo (Expert)
17 December 2009 Cost of Acquisition is deemed to be the
cost of acqusition of previous owner.
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CA Balram Sharma

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CA Balram Sharma (Expert)
19 December 2009 Agree with my expert frnds
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