Income tax calculator: How gold sellers can save LTCG tax on wealth gain
Income tax calculator: One can claim tax exemption under Section 54F, if it has bought a new residential property one year before the sale of the capital asset
Income tax calculator: Selling gold (either physical or digital or paper) after holding it for more than three years, attract 20 per cent Long Term Capital Gain (LTCG) tax. However, under certain conditions, one can avoid paying this tax even after holding the precious bullion asset for more than three years. Under Section 54F of the Income Tax Act, one can claim income tax exemption on net wealth gained from the sale of capital assets such as stocks, bonds, gold etc., but other than a house property. However, the claim can be possible if the whole money received from the gold sale is used for buying of a new residential property.