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Capital Gain Tax on Exchange of Gold
please somebody provide how the capital gain tax will be levied on exchange of gold asper Income Tax Act
Replies (5)
I understand that you mean to say selling of old ornaments and buying new ornaments (exchange this way) - is this what you are asking for ? Pl revert
yes I'm asking for exchange In that way
Old gold will be considered as sale.
Sale value of old gold minus indexed value of old gold will by your long term capital gain.
Note -----
if old gold is bought before 2001 then you can take market price prevailing as on 1-4-2001 as the cost of your gold.
Sale value of old gold minus indexed value of old gold will by your long term capital gain.
Note -----
if old gold is bought before 2001 then you can take market price prevailing as on 1-4-2001 as the cost of your gold.
thanks for suggestion
You are most welcome
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