capital gain on jewellery
This query is : Resolved
25 June 2010
whether sale of jewellery is liable for Capital gain tax, if yes please provide the procedure for calculation of Capital gain
25 June 2010
Yes, sale of jewellery is liable for Capital Gain tax.
If jewellery is sold within 3 years of acquisition, short term capital gain can be calculated by deducting cost of acquisition from sale proceeds of jeweller.
If jewellery is sold after 3 years after acquisition, Long term capital gain can be calculated by deducting indexed cost of acquisition from sale proceeds of jewellery.
If jewellery is sold within 3 years of acquisition, short term capital gain can be calculated by deducting cost of acquisition from sale proceeds of jeweller.
If jewellery is sold after 3 years after acquisition, Long term capital gain can be calculated by deducting indexed cost of acquisition from sale proceeds of jewellery.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
