How does a person report gold jewellery sale gains in ITR?
Selling old gold jewellery can lead to capital gains tax in India. Gold held for 24 months or less is taxed at the applicable income tax slab, while gains on gold held for over 24 months are taxed at 12.5%, plus cess, without indexation. The seller must report gains in ITR-2 or ITR-3 and keep purchase and sale receipts.
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