banner_ad

Gold Deposit - Kindly Advice

Others 432 views 2 replies

 Dear Friends,

 

My family has got 1 KG (i.e. 100 Tolas) of gold inherited from my parents & my wife's parents. We want to deposit this idle gold in Income Tax & Wealth Tax Exempted GOLD DEPOSIT scheme for the benefit and welfare of our two minor daughters equally (i.e. 500 grams each).

 

Being inherited gold we do not have any documents to prove the same, and it is un-accounted. Does we get any problems if we deposit in the IT & Wealth Tax Exempted GOLD Deposit schemes. Kindly advice.

 

 Thanks, Bala

Replies (2)

dear bala there is no problem in deposit this gold into it scheme but if it dept. ask about the source then there will be a problem so it's better to get a certified document from ur relative to prove the genuineness of that transaction in any future correspondence with it dept.

thanks & regards

tarun rustagi

 

Thanks for your reply. Most of the gold I received from my mother who is no longer alive. It is inherited from my mother. Also, with respect to my wife, it is her own gold given to her at the time of marriage by her parents. How I can receive the certified copies for this. From whom should I receive the certified copies as my mother is no longer living. I want to deposit 500 grams of gold on each of my minor daughters. Kindly advice. Bala


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details