Wealth tax on gold

Tax queries 1976 views 4 replies
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IT
256 Points Joined January 2008

HELLO CACLUBINDIA,

Does investing in gold attract wealth tax ? I wan to diversify my investment and planning to invest in gold bar ? Will it attract wealth tax ? Is there any upper limit in investing in physical gold which will attract wealth tax ? What is the rate of wealth tax ?

Thanks Josh

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On 27 March 2008 at 19:38 Report
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Chartered Accountant
247 Points Joined October 2007
Wealth tax is levied on jewellary of any kind, in any form. Therefore it includes gold bars also and wealth tax will be attracted @ 1%.
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On 28 March 2008 at 02:19
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Finance Controller CA. CS. CFA. CIFRS.
9017 Points Joined October 2007

upto 15 lacs wealth tax is exempt

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On 28 March 2008 at 08:52
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Accounting and Tax consultants
254 Points Joined February 2008

what are rules in karnataka for professional tax in 2008.09

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On 28 March 2008 at 11:23
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Guest
428680 Points Joined August 2012

What r the Various Mutual Fund Valuation Models?

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On 04 November 2008 at 13:19


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