Hi,
I received gold jewellery as gift from my in-laws (approx.640 grams). I would like to convert my gold jewellery to either SGB or R-GDS. I would prefer SGB as it can be dematerialised & pledged. However, I am concerned about tax implications. Following are my primary concerns:
- Does sale of gold jewellery to buy SGB attract Capital Gains Tax?
- Does deposit of jewellery for R-GDS attract capital gains?
- I don't have any bills as it was a gift during my marriage. Does converting to Bonds/Gold Deposit arise to any income tax issues in future?
- Are there any other legal/tax issues I should be concerned about?
Also, please advice if this is a bad idea from an investment point of view.
Thanks in advance,