GOLD JWELLERY RECEIVED FROM MY GRAND PARENT IN YEAR 2008...RS.500000..IF NOW M SALE GOLD AT RS.1500000.....
CAPITAL GAIN TAXABLE OR NOT??
PLZ...GUIDE ME TAXABILITY OF SUCH INCOME....
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Capital gain
Replies (1)
Yes, capital asset being sold.........
If its gift in your hands..... COA of the jewellary required.
Or FMV as of April, 2001, in case purchased earlier....
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