16 September 2011
The expert is correct but person concern wants to invest as capital. In these circumstances he is not going to invest in 54EC or 54F.
The only way is to pay the capital gain tax.
The problem which will arise shall be how to prove that he is the owner of the Gold. Has he got any documents for the same. Without documents how he will prove that the he became the owner at the time of his marriage as gold ornaments are generally received in the marriage by the females.
CAclubindia
