This regarding Capital Gains on Jewelery which was Gifted by my parents in 1970 & which I propose to sell now in 2018. Can the learned CAs advice me :
1. The raw(bar) rate of 22 carat gold rate is only available. If the cost of acquisition in 2001 is to be compared with present price of the ornament which involves wastage & making charges, what permissible percentage can be added to the raw(bar) rate of gold in 2001?
There is difference in raw bar 24 Cr. and 22 cr. Jewelary/gold.... its 91.6% pure.
Difference between 22cr raw gold and different types of jewellary range between 2 to 5% because of making. joints in the jewellary.
Difference of machine made and hand made jewellary also very by 2-3%
As such it is to be certified by approved valuer for authentic weight of pure gold.
O P Bagla & Co LLP
New Delhi
CA Inter
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Shaswat initial support private limited
Ahmedabad
CS
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BHUPINDER SHAH AND COMPANY
New Delhi
CA Inter
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