Hello Frnds,
Can u help me to slove this query: Mr. X has invested in Gold Harvest scheme Rs. 5,000/- per installment for 11 instalments and he has received bonus of 1 installment i.e 12th is it eligible for deduction under Income tax act as it is part of saving scheme or it will be taxable under Income form other source?
Regards,
Krishna
sorry this will not be eligible for deduction.
Refer section 45 capital gain tax will be chargeable on it whenever will be sold.
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