What is the tax on selling Gold jewellery in India?
What is the tax on selling Gold jewellery in India?
Mar 20, 2023
Rajeev Kumar
With Gold price rising, you may be tempted to sell some old jewellery for cash. While you are free to do so, let’s find out the tax implications
With Gold price rising, you may be tempted to sell some old jewellery for cash. While you are free to do so, let’s find out the tax implications
Physical gold such as jewellery, bars and coins are taxed according to the holding period
Physical gold such as jewellery, bars and coins are taxed according to the holding period
Tax on Long Term Capital Gain will apply if the jewellery has been held for more than 3 years.
Tax on Long Term Capital Gain will apply if the jewellery has been held for more than 3 years.
If the jewellery has been held for more than 3 years, you will be required to pay 20% (plus applicable surcharge and cess).
If the jewellery has been held for more than 3 years, you will be required to pay 20% (plus applicable surcharge and cess).
Short Term Capital Gains tax will apply if selling physical gold within 36 months.
Short Term Capital Gains tax will apply if selling physical gold within 36 months.
STGC gain is added to one’s taxable income. STCG is taxed according to the applicable income tax slab.
STGC gain is added to one’s taxable income. STCG is taxed according to the applicable income tax slab.
The cost of acquisition of the jewellery considered for tax calculation is the amount paid by buyer at the time of acquisition.
The cost of acquisition of the jewellery considered for tax calculation is the amount paid by buyer at the time of acquisition.
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