Sold old gold jewellery? Can buying new gold using the proceeds help you save tax — here’s what the law says
· livemint.com
Selling gold can incur capital gains tax as they are considered as a capital asset by the income tax department. Here's whether you can eliminate or reduce your tax liability by investing the proceeds into new gold jewellery.
Selling old gold jewellery can trigger a capital gains tax liability if the asset is sold for more than its cost of acquisition. Some taxpayers may believe that...