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https://www.goodreturns.in/classroom/2016/08/how-is-wealth-tax-capital-gains-tax-payable-on-gold-480084.html
Aug 10, 2016 · In fact, there can be a search operation, and the Income Tax Authorities have the power to seize your gold. To avoid such a hassle it is better to pay the applicable wealth tax on gold in India.Estimated Reading Time: 3 mins
https://www.mymoneysage.in/blog/no-tax-on-gold-jewellery-acquired-through-legitimate-exempted-income/
May 30, 2018 · • By disclosing the tax receipts of the wealth tax paid by you up to the year 2014-15 as you would have declared the gold passed on to you through generations in your wealth tax returns. • If your taxable income exceeds Rs. 50 lakhs per annum, then you would have declared the details of the jewellery held by you in your tax returns filed ...
https://stableinvestor.com/2020/06/taxation-gold-capital-gains.html
Jun 04, 2020 · As per the latest rules of Gold Income Tax in India 2021-22, the profit on the sale of gold is taxable under the head ‘Capital Gains’ of Income Tax. And the capital gains from the sale of gold depends on whether it is short term or long term and the income tax on capital gains on gold depends on the form of gold.Estimated Reading Time: 10 mins
https://www.bankbazaar.com/gold-rate/tax-on-gold-2016.html
Mar 16, 2016 · Wealth Tax: Gold and valuable jewellery comes under the definition of wealth. If wealth exceeds more than Rs.30 lakh, then 1% wealth tax is to be paid. The valuation of gold is carried out as per the rates of 31 st March.
https://taxguru.in/income-tax/income-tax-selling-gold.html
Nov 14, 2020 · Income Tax Act of India specifies that profit from sale of gold bars, jewelry, coins or utensils or any other form of precious metal will attract tax under capital gains. The profit on sale of your gold holding is taxable under the head “ Capital Gains ” of Income Tax.
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