banner_ad

Taxability of income on Gold ETFs

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 November 2009 My daughter (a major with her own PAN card but so far not assessed to income tax) had acquired some Benchmark Gold ETFs by gift from me.
She sold the EFTs within 3 years (from original date of purchase by me). Her other source of income interest on FDs. Her total income from interest is Rs.55,000/- and profit from sale of Gold ETFs is Rs.7,500/-.

Whether the profit on Gold ETFs is to be taxed separately. If yes, at what rate? Similarly, what would be the treatment of Debt MFs if sold (i) within 1 year and (ii) sold between 1-3 years.
Profile Image

M Prabhakar Menon

Profile Image

M Prabhakar Menon (Expert)
17 November 2009 Even if your daughter's income is below the exempt limit its better to file the return showing all sources of income for record purposes. Profit on sale of gold is also to shown as income it forms part of the total income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details