Long term capital gain

06 May 2017

i hered that from few CA

Gold is an liquied asset it can not be consider as long term asset. hence no set off allowed on selling of gold and purchasing of residential home.

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3 Replies

sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 06 May 2017

capital gain exemption not available on sale of gold for the purchase of residential house

abilashvb (student) (48 Points)
Replied 06 May 2017

if gold held as a capital asset , exemption available.please refer Capital Asset definition,you will come to know..

Dwarkadas Madanlal Kabra (MD) (30 Points)
Replied 06 May 2017

on sell of gold ornaments long term capital gain arises(buying gold 36 months back)

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