Capital gain

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374 Points Posted on 04 April 2020
If jewllery that is used for personal purpose sold will capital gain arise.
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On 04 April 2020 at 23:53 Report
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When you sell personal jewellery, particularly items made of gold, precious metals, or stones, capital gains tax may apply. These items are generally classified as capital assets, meaning their transfer can trigger income tax. This is because they fall outside the typical definition of 'personal movable assets' for tax purposes.

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12244 Points Posted on 05 April 2020
Yes... gold jewelry and precious metals and stones are defined as capital asset and hence charged to income-tax
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On 05 April 2020 at 02:46
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Chartered Accountant
12739 Points Posted on 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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On 05 April 2020 at 11:52
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job
376 Points Posted on 05 April 2020
Yes..
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On 05 April 2020 at 20:15

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