Hi, in last FY, I bought Physical gold of amount 225000 and then sell it in 3 month at price 200000. So I sell it in loss of Rs25000 can I show this in my short term loss and add it in Loss cary forward ?? if so under which section? please help.
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Tax rule for physical gold
Replies (2)
Its a short term capital loss. You need to have proper invoices for the same. You need to diclose it in income tax return.
Yes you can set off this loss against long term capital gain or short term capital gain and also carry forward this loss. This can be done under the head Capital gains.
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