HI Experts,
i need an advise from the experts in this forum. Although i googled lot about this question but still wants to confirm.
I am 27 years old , working in an IT firm. when i was 10 years old my grandmother gifter me an GOLD ornament which i want to sell now due to financial emergency.
i want to know what will be tax implications on this.
what i learned from googling abt this topic is that, the profit so earner would come under Long Term Capital Gain which will be taxed at 20%.
Honestly, for me 20% is too much. Is there any workaround (ofcourse under legal methods) by which i can save some of this tax, then please HELP ME.
thanks in advance