Short term capital gain

There are no Deduction on any type of short term capital gain

For Long term deduction is available but As gold is not covered under sec 54 for exemption...the same is taxable under capital gains.


 

Abhishek Ranjan Singh 
ARS Solutions 
www.arssolutions.co.in 
+919022838615 

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Dear Irshad 
You 54F is for long term capital gain,

Any Gain arising to an individual or HUF from the sale of any Long Term Asset other than Residential Property shall be exempt in full, if the entire net sales consideration is invested in 1. Purchase of one residential house within 1 year before or 2 years after the date of transfer of such an asset or in 2. Construction of 1 Residential House within 3 years after the date of such transfer.


Abhishek Ranjan Singh 
ARS Solutions 
www.arssolutions.co.in 
+919022838615 

Note : If you find our reply useful. Please Score us by clicking on "THANK USER"