Marriage gift jewelery on capital gain working
This query is : Resolved
20 January 2023
sir
A marriage on 1990. she get gift jewelry 700 grms from his father. A Decided sale of 450 gram jewelry onJan 2023.
1. It is applicable long term capital gain
2. Pl. guide of working on capital gain method.
3. Limit of sales of jewelry on capital gain.
thanks
A marriage on 1990. she get gift jewelry 700 grms from his father. A Decided sale of 450 gram jewelry onJan 2023.
1. It is applicable long term capital gain
2. Pl. guide of working on capital gain method.
3. Limit of sales of jewelry on capital gain.
thanks
20 January 2023
1. Yes
2. Take Cost of the jewelry as on 01.04.2001. Multiply it by 3.31 (say "X"). Any excess amount received on the sell, over the amount X will be LTCG.
3. No limit.
2. Take Cost of the jewelry as on 01.04.2001. Multiply it by 3.31 (say "X"). Any excess amount received on the sell, over the amount X will be LTCG.
3. No limit.
Message likes :
1 times
20 January 2023
Also please beware of the GST Applicability since the value of sale might cross the exemption limit.
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
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- 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
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
CAclubindia
