Pls advise what is the current rules to calculate long term capital again on sale of ancestral gold.Can we invest in 54Ec bonds to
avoid tax.
Menu
Long terms capital gain on sale of gold in oct 2018
Replies (5)
Caluclate the long term capital gain by taking the value of gold as on 2001-02
Yes u can invest in 54ec
Section 54EC is allowed in case the transferred asset is a long term asset being Land, Building or Both.
The section is not applicable when the consideration is received from transfer of long term capital asset being a jewellary i.e Gold.
I think the deduction cannot be claimed u/s 54EC if you invest the money in NHAI / RECL Bonds.
w. e. f. 01.04.2018 exemption under section 54EC restricting its scope only to capital gains arising from long-term capital assets, being land or building or both.
So LTCG on sale of gold is taxable @ 20% with no exemption u/s 54EC.
So LTCG on sale of gold is taxable @ 20% with no exemption u/s 54EC.
Thanks for updating...
Thk you all for your inputs.
Recent Topics :
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
Related Topics :
CAclubindia
