Sale of jewellery
Sale of jewellery attracts 'capital gain'. However, the transfer / sale normally turns to a 'loss' after indexation in case of long term capital asset. Hence, don't worry. Follow the course of law and disclose the sale properly in your return of income.
Sir, i want to know can i invest the same money received in course of sale of jewellery in investing shares of unlisted company and do i have to pay any tax in such investment or sale of jewellery and is their any limit on sale in a year?
As a first step, compute the capital gains. If the the result of the computation turns to be a loss, then the sale proceeds can be invested the way you wish. In case of gain, to the extent of gain you have to either invest in specified bonds u/s 54EC or pay capital gains tax and invest the balance amount the way you wish.
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
