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https://taxguru.in/income-tax/rates-of-gold-and-silver-for-wealth-tax-valuation-purpose-along-with-valuation-rules.html
Apr 28, 2020 · However taxation of Gold ETF is same as selling gold jewellery. It means if Gold ETF is sold after 36 months from the date of purchase then Long term capital gain tax is levied @ 20% on the profits and if it is sold within 36 months then short term …
https://www.goodreturns.in/classroom/2016/08/how-is-wealth-tax-capital-gains-tax-payable-on-gold-480084.html
As per the present provisions, you have to pay 1 per cent of the amount as Wealth Tax on gold, if the valuations is above Rs 30 lakhs. If you do not file a tax returns for Wealth Tax, the Income ...
https://www.lawyersclubindia.com/experts/valuation-of-jewellary-under-wealth-tax-47681.asp
Nov 13, 2009 · 13 November 2009 The value of the jewellery shall be estimated to be the price it would fetch if sold in open market on the valuation date, further the return of net wealth as furnished by assessee must be supported by: i) A statement in the prescribed form (MOSA) where the value of the jewellery on the valuation dates does not exceed Rs. 5 Lac.
https://taxguru.in/income-tax/applicability-wealth-tax-making-charges-jewellery.html
CA Vidhan Surana & CA Sunil Maloo. Whether wealth tax leviable on the making charges of the jewellery? – A Detailed Analysis. Under the scheme of Wealth Tax in India, Wealth tax is levied on the net wealth of the every individual, Hindu undivided family and company as on the valuation date.
https://www.incometaxindia.gov.in/Forms/Wealth-Tax%20Rules,%201957/103120000000008063.pdf
Purpose for which valuation is made 2. Date as on which valuation is made 3. Name of the owner(s) of the jewellery 4. If the asset is under joint ownership/coownership, share of - each owner 5. Description of each item of jewellery 6. Total gross weight of each item of jewellery 7. Net weight of precious metal, such as gold, silver,
https://itatonline.org/articles_new/implications-of-jewellery-found-during-the-course-of-search-u-s-132-of-the-income-tax-act-1961/
Jun 11, 2020 · (i) In the case of a wealth-tax assessee, gold jewellery and ornaments found in excess of the gross weight declared in the wealth-tax return only need to be seized. (ii) In the case of a person not assessed to wealth-tax gold jewellery and ornaments to the extent of 500 gms. per married lady, 250 gms per unmarried lady and 100 gms. per male ...
https://www.jewelrynotes.com/pricing-selling-jewelry/
When upgrading jewelry or looking to make extra cash, a Resale Appraisal determines the Fair Market Value of the jewelry for the purposes of valuing the jewelry with the intention of it being resold. The jewelry can then be resold again in the trade, or may be sold directly to an end consumer.
https://www.incometaxindia.gov.in/Acts/Wealth-Tax%20Act,%201957/102120000000026474.htm
The value of the jewellery shall be estimated to be the price which it would fetch if sold in the open market on the valuation date (hereafter in this rule referred to as fair market value). (2) The return of net wealth furnished by the assessee shall be supported by,—
https://www.caclubindia.com/forum/valuation-of-assets-under-wealth-tax-act-1957-60124.asp
May 14, 2013 · The value of the jewellery shall be fair market value in the openmarket on the valuation date. A statement in the prescribed form shall be furnished by the assessee along with return of income where the value of the jewellery on the valuation date does not exceed Rs.5 lakhs.
https://www.caclubindia.com/experts/limit-of-exemption-for-an-assessee-to-keep-jewellery--835650.asp
(ii) In the case of a person not assessed to wealth-tax gold jewellery and ornaments to the extent of 500 gms. per married lady, 250 gms. per unmarried lady and …
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