Capital Gain Tax on Exchange of Gold
rupesh raut (27 Points)
05 September 2019
please somebody provide how the capital gain tax will be levied on exchange of gold asper Income Tax Act
5 Replies
Kapadia Pravin
(17259 Points)
Replied 06 September 2019
I understand that you mean to say selling of old ornaments and buying new ornaments (exchange this way) - is this what you are asking for ? Pl revert
Kapadia Pravin
(17259 Points)
Replied 06 September 2019
Old gold will be considered as sale.
Sale value of old gold minus indexed value of old gold will by your long term capital gain.
Note -----
if old gold is bought before 2001 then you can take market price prevailing as on 1-4-2001 as the cost of your gold.
Sale value of old gold minus indexed value of old gold will by your long term capital gain.
Note -----
if old gold is bought before 2001 then you can take market price prevailing as on 1-4-2001 as the cost of your gold.
Recent Topics
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
- Avoiding tax audit in case of intraday equity loss
Related Threads
CAclubindia
