Selling Inherited Gold Jewellery: CA Balwant Jain Reveals Tax Rules and Potential Problems
Business
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News18 Tamil•03/12/2025
Selling Inherited Gold Jewellery: CA Balwant Jain Reveals Tax Rules and Potential Problems
- •After a mother's death, her children have rights over her gold jewellery.
- •Manoj Sharma from Noida is considering selling his deceased mother's gold jewellery.
- •Tax expert Balwant Jain explains that selling inherited jewellery depends on factors like weight, inheritance status, and parents' income.
- •Jewellery purchased 24 months ago is treated as a long-term capital asset, subject to 12.5% long-term capital gains tax.
- •For jewellery bought before April 1, 2001, long-term capital gains are calculated based on fair market value on that date.
Why it matters: Improper documentation could make Manoj Sharma liable for a 60% tax.
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