Need experts advise

Consequences of Sale :-

Transaction Taxable : Yes

Type Of Capital Gain : Long Term

Cost Of Acquisiton : The price paid by your grandmother [By virtue of Section 49(1)]

Rate Of Tax : 20% after indexation

Ways to save tax : Well you can save tax only by re-investing and then you can claim exemption u/s 54EC & 54F. In 54EC you need to re-invest the amount of capital gain in bonds issued by NHAI or RECL (maximum Rs. 50 Lakh in 1 Financial year) with 6 months from the date of transer. In 54F you need to re-invest the net consideration in a New Residential House Property (provided you do not own more than 1 house as on date of transfer), amount of exemption in this case shall be

Capital Gain x (Amount Re-invested/Net Consideration) [subject to maximum of capital gain]

- Ruben Balooni

Originally posted by : Ruben Balooni
	Consequences of Sale :- Transaction Taxable : Yes Type Of Capital Gain : Long Term Cost Of Acquisiton : The price paid by your grandmother [By virtue of Section 49(1)] Rate Of Tax : 20% after indexation Ways to save tax : Well you can save tax only by re-investing and then you can claim exemption u/s 54EC & 54F. In 54EC you need to re-invest the amount of capital gain in bonds issued by NHAI or RECL (maximum Rs. 50 Lakh in 1 Financial year) with 6 months from the date of transer. In 54F you need to re-invest the net consideration in a New Residential House Property (provided you do not own more than 1 house as on date of transfer), amount of exemption in this case shall be Capital Gain x (Amount Re-invested/Net Consideration) [subject to maximum of capital gain]   - Ruben Balooni

Agree with Ruben.
 

Hello Mr. Sunny,  best of my knowledge you have 2 options which are mentioned below

OPTION 1  SECTION 54EC

i assume that your capital gain will not be more than 50 lakhs ,

Now u have one option to sell that gold and invest your money in  bonds of NHAI  and  RECL , withing 6 mths of sale u have to do investment in that bonds, and you would not be able to take that mooney back from that bonds till next 3 years,,

in this way you  can successfully save your full tax of 20 %

OPTION 2 SECTION 54F

i am assuming that you are owner of only 1 house,

now you can use the amount of capital gain to buy  RESIDENTIAL HOUSE PROPERTY

you have to purchase house within 1 year of sale of your gold  :)

thanks :)