Capital gain tax on sale of jewellery

if capital gain is Rs. 2,56,000 (afer indexation) then Taxable income would amount ot Rs.56,000 and tax would be 20% and also cess @ 3% is leviable.

So tax liability would be Rs11,536

LTCG is to taxed @ 20%, not under slab rates of individual, however exemption limit can be utilised. Albert your computation is correct.

just for my interest, since transfer of jewellery has no documentation or registration , what date have you considered as date of acquisition?

Thanks for your reply but regarding my above query someone has given me the following advice please tell me is that true :

If the total income of my mother for one financial year includes income from any other sources ( Salary, rent, business etc) and such income (Other than capital gain ) is below exemption limit which is not chargeable to tax, then long term capital gain amount shall be reduced to the extent of exemption limit

But If she has no income from any other sources ( Salary, rent, business etc) except income from Long term capital gain in that case on total capital gain amount TAX shall be charged @ 20%   for example :

i)  Income from capital gain    Rs 256000/

ii) Income from any other source   Rs.  25000/

Total income ( i+ii)                            Rs.281000

Tax liability for FY 2012-13 (281000-200000)=81000 Tax @ 20% =16200/

If she has no other income except capital gain then She will not get the benefit of basic exemption limit

Tax shall be charged @ 20% on total capital gain amount  i.e. 256000 x20% = 51200/=

Please tell me accordingly.

thank u for kindness