CAPITAL GAIN ARISING OUT OF SALE OF GOLD FOR AN INVIDIDUAL ASSESSEE

An individual is asking about capital gains tax implications when selling gold ornaments and coins purchased three years ago. They are seeking information on potential exemptions for the assessment year 2021-2022. The response suggests that Section 54F might offer exemption under specific conditions, and that long-term capital gains tax will apply, with options to invest in various schemes declared under the Income Tax Act.