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gold jewellery old
my wife got jewelry as gifted to her by mother in f.y 2002-2003 and also she has got jewelry at time of marriage in 1984. Now if she sells it then what will be rate applied for calculating long term capital gain.for both.
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From, F.Y 2017-18 Gold rate of 01.04.2001 shall be considered and as per indexation LTCG shall be computed.
LTCG shall be taxable @ 20% under section 112.
LTCG on sale of gold jewellery
1.Gift from mother for FY 2002-2003
LTCG= sale value - cost of jewellery on fy 2002-2003 * 280/105
2. Gift on the occassion of marriage
LTCG= Sale value - Fair value as on 01/04/2001 * 280/100
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