Selling old gold? Pay long-term capital gains tax on proceeds

Selling old gold? Pay long-term capital gains tax on proceeds, with the cost of acquisition based on fair market value as of April 1, 2001. Also, learn about tax deductions for pensioners and exemptions on FD interest for senior citizens.
The taxable capital gain will be calculated as: Sale Price – Cost of Acquisition (FMV as of April 1, 2001) = Long-Term Capital Gain (LTCG).

Read More