Dear Members,
I would like to know the consequence and also compliances if any female assesses sale out the the jewellery gift received on occasion of marriage 6 year back and invested that money or lend the money on interest.
Do the assessee required to file the return for the year of sale of goods?
Do capital gain attracted in hand of asessee?
What will be treatment of income generated on receipt from sale of jewelley?
What will documentation required to justify the above transaction ?