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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.
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