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capital gain on jewellery

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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.



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