Sale of old gold jewellary

This query is : Resolved

prasad (Querist)
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17 November 2014 Dear Sir,

i have a quary on sale of old Gold Jewellry,
my monther is age about 58 year, she has gold given his mother when she got marriage, known she saled the old jewellry for rs.800000/- this year she liable to pay tax or not please calrifie me

Amol S Joglekar

Amol S Joglekar (Expert)
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17 November 2014 Take the value as on 01/04/1981 and do the indexation. (In most of the cases, due to indexation there appears to be NO gain.)
Check the same in your case also and accordingly the decision be taken whether or not it is taxable.