Capital gain
Abhishek Selvam O (374 Points)
04 April 2020
If jewllery that is used for personal purpose sold will capital gain arise.
3 Replies
rama krishnan
(12244 Points)
Replied 05 April 2020
Yes... gold jewelry and precious metals and stones are defined as capital asset and hence charged to income-tax
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 05 April 2020
transfer of Jewelry shall attract Capital Gain .
as it is out of the definition of "personal movable assets" of the assessee .
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