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Capital Gain Tax on Exchange of Gold

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27 Points Posted on 05 September 2019
please somebody provide how the capital gain tax will be levied on exchange of gold asper Income Tax Act
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On 05 September 2019 at 22:35 Report
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17264 Points Posted on 06 September 2019
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
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On 06 September 2019 at 01:21
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27 Points Posted on 06 September 2019
yes I'm asking for exchange In that way
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On 06 September 2019 at 10:32
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17264 Points Posted on 06 September 2019
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.
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On 06 September 2019 at 11:08
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27 Points Posted on 06 September 2019
thanks for suggestion
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On 06 September 2019 at 11:10
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17264 Points Posted on 06 September 2019
You are most welcome
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On 06 September 2019 at 17:12


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