Taxability on Sale of Jewellery

Share
Share This Thread
  1. nisha goel

    nisha goel New Member

    What would be the best tax practice to show sale of Gold jewellery received in marriage for an individual.
     
  2. ZED

    ZED Well-Known Member

    Jewellery is a capital asset and its sale will attract capital gain tax.
    Cost of acquisition shall be the cost of acquisition to the previous holder. If that cost is not available you can use the value submitted to you , on your request, by the registered valuer.
    Maintain that certificate for atleast 6 years.

    [Indexation of cost is also available if the asset was hold for more than 3 years]
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Taxability of sale of flat by builder Income Tax Apr 6, 2015
Taxability of Commission Income earned by Transport Owner other than TDS Income Tax Nov 7, 2017
Taxability of Family Pension Income Tax Jul 16, 2017
Taxability of LIC Policy's Maturity Amount Income Tax Jun 23, 2017
Taxability of Dividend in the hands of Shareholder Income Tax Mar 15, 2017