In this video, we have discussed the least considered aspect of Income Tax, i.e Tax on sale of Gold/Jewelry in India. In India, physical gold is still one of the most popular forms of investment as well as a symbol of wealth.
But many are unaware or are ignoring the fact that the Gold/Jewelry is considered as a capital asset and the sale of Gold/Jewelry attracts capital gain under the Income Tax Act. In this video, we have discussed in the brief and in simple language about the how sale of Gold/jewelry is treated under Income Tax.
#incometax #capitalgain #idealconsultax

00:18 Section 2(14) of the Income Tax Act
00:30 What is Capital Gain?
00:50 Period of holding for capital Asset
01:20 Tax rate on Long Term Capital Gain
02:04 Tax rate on Short Term Capital gain
02:24 Period of Holding for Inherited Jewelry
03:13 Set off & Carry forward of loss on the sale of Jewelry

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