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Planning To Sell Family Heirloom Gold? Check Tax Rules To Avoid Hassles
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Selling inherited gold? You might owe capital gains tax. Here’s what Indian tax law says about jewellery passed down from parents or grandparents.
According to Indian tax laws, inherited gold is considered a capital asset, so any profit made from selling it may be subject to capital gains tax. (AI Generated)
Gold has long been a symbol of tradition, prosperity, and financial security for Indian families. Often passed down through generations, gold jewellery is typically received as part of family heritage, gifted during weddings or other significant occasions by parents and grandparents.
However, if the time has come to sell this inherited gold, it’s important to understand how taxation applies.
Is Inherited Gold Taxable? Yes, Here’s How
According to Indian tax laws, inherited gold is treated as a capital asset. This means that if you sell it, capital gains tax may apply on the profit made.
A unique aspect of inherited gold is that, for tax purposes, the purchase date and cost are considered the same as those of the original owner, such as your mother or grandmother.
For instance, if your grandmother purchased the gold in 1981 and you received it during your marriage, the cost and purchase date from 1981 are used for calculating capital gains.
Gold Purchased Before 2001? You Have An Advantage
If the gold was originally purchased before April 1, 2001, you have the option to use the Fair Market Value (FMV) as of April 1, 2001 instead of the actual purchase price. This often benefits the seller, especially when historical records are missing or unclear.
Short-Term vs Long-Term Capital Gains: What’s The Difference?
It’s essential to understand the distinction between short-term and long-term capital gains, as the tax treatment differs:
Previously, gold held for more than 36 months was considered a long-term asset. After the Finance Act 2024, this threshold has been reduced to 24 months.
So now, if you’ve held the gold for over 24 months, the profit is treated as a long-term capital gain, and you’ll be taxed at 12.5% (without indexation). However, if you sell the gold within 24 months, the profit is considered a short-term gain, and will be taxed according to your income tax slab.
Gold vs Nifty50 vs Fixed Deposits: Who Wins Over 10 Years?
When comparing returns on various investments over a decade, such as gold, Nifty50, and fixed deposits (FDs), gold has often delivered competitive, if not superior, returns, especially when held for decades. For example, a Rs 1 lakh investment made decades ago in gold could well have outperformed traditional savings instruments.
In cases where the gold is several decades old, the 12.5% long-term capital gains tax will apply, but that still leaves a significant profit margin.
No Purchase Records? Here’s What You Can Do
If you don’t have access to the original purchase records for the inherited gold, don’t worry. You can rely on either:
- A valuation report from a certified jeweller, or
- The historical gold rates published by the local Jewellers’ Association.
These can serve as valid documentation for determining the cost of acquisition during tax assessment.
In conclusion, yes, tax is applicable when selling inherited gold. But the good news is that the rates are reasonable, especially for long-term holdings. With the right paperwork, such as FMV documents or jewellers’ valuation, calculating and filing taxes becomes a straightforward task.
So, if you’re planning to sell inherited gold, be informed and prepared, and you can make the most of your family treasure, both sentimentally and financially.
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Danielle KayeBusiness reporter
ReutersDisney+ and Hulu cancellations rates doubled in September after TV host Jimmy Kimmel was briefly taken off air, suggesting the move may have hurt the entertainment giant financially.
Data from analytics firm Antenna shows Disney+’s so-called churn rate – the percentage of subscribers who cancel each month – jumped from a 4% average to 8%, which equates to about three million cancellations, while Hulu’s rose to 10% or more than 4 million.
Disney suspended Kimmel after comments he made about the shooting of Charlie Kirk, following pressure from a federal regulator. The decision sparked free speech debates.
ABC, which airs Jimmy Kimmel Live, reinstated him within a week after a backlash.
Disney, which owns ABC, decided on 17 September to take the comedian off air, two days after Kimmel had said, during one of his shows, the “Maga gang” was “desperately trying to characterise this kid who murdered Charlie Kirk as anything other than one of them” and of trying to “score political points from it”.
The abrupt suspension came hours after Brendan Carr, chair of broadcast regulator, the Federal Communications Commission (FCC), threatened to revoke ABC’s broadcast licence.
The move was met with protests in California and lambasted by the writers and actors guilds, lawmakers and the American Civil Liberties Union (ACLU).
Critics and First Amendment advocates had railed against ABC’s decision as censorship and a violation of free speech. They also called for economic pressure on Disney, urging people to boycott the company’s services.
Hundreds of celebrities and Hollywood creatives signed a letter backing Kimmel, who was later reinstated.
ReutersThe new data from Antenna, released on Monday, offers the first indication that Disney may have taken a hit from the blow-back.
Disney+ and Hulu lost millions more subscribers in September compared to recent months, while Netflix saw its churn rate hold steady at 2%.
But it is not clear whether Kimmel’s suspension was the only factor driving the surge in cancellations.
Disney’s move to suspend Kimmel coincided with its announcement of previously planned increases to subscription prices, as the company faces pressure to boost its profit from streaming services.
Despite the rise in cancellation rates, both Disney+ and Hulu saw an uptick in new sign-ups in September, offsetting some of the loss, according to Antenna.
Disney declined to comment and Hulu is yet to respond. However, Disney noted discrepancies between Antenna’s data and its internal figures.
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By Farah Stockman, Gabriel Blanco, June Kim and Claire Hogan
October 20, 2025
Charlotte EdwardsBusiness reporter, BBC News
Getty ImagesPizza Hut is to close 68 restaurants and 11 delivery sites in the UK with the loss of 1,210 jobs, after the firm running them fell into administration.
DC London Pie Limited, which operates Pizza Hut’s UK restaurants, appointed FTI Consulting as administrators on Monday.
However, Pizza Hut’s global owner Yum! Brands has agreed to save 64 restaurants, preserving 1,276 jobs.
Pizza Hut is well known for its family-friendly dining and salad bar, but its UK business has been struggling and had previously gone into administration less than a year ago.
DC London Pie had bought Pizza Hut UK’s restaurants from insolvency in January this year. The company also owns Pizza Hut franchises in Sweden and Denmark.
A spokesperson for Pizza Hut UK said: “We are pleased to secure the continuation of 64 sites to safeguard our guest experience and protect the associated jobs.”
Nicolas Burquier, managing director for Pizza Hut Europe and Canada, said: “This targeted acquisition aims to safeguard our guest experience and protect jobs where possible.”
He added that the immediate priority for Pizza Hut was “operational continuity at the acquired locations and supporting colleagues through the transition”.
Zoe Adjay, a senior lecturer in hospitality at the University of East London, said Pizza Hut had been “at the forefront of bringing fast food into the UK” in the 1970s, but had struggled to remain relevant amid increased competition.
“The pizza market has become a lot more upmarket,” she said. “There’s a lot more high-end pizza and they’ve taken a huge market share.”
Ms Adjay added that Pizza Hut had also failed to establish itself on social media in the same way as some of its competitors.
Increased operating costs and “ongoing consumer caution” will likely have contributed to Pizza Hut’s challenges, according to Danni Hewson, head of financial analysis at AJ Bell.
“DC London Pie had rescued Pizza Hut’s UK operations from insolvency less than a year ago, but making a success of a big-name casual dining businesses is a tough job.
“Taking back the brand looks a smart move by Yum! Brands as it has decades of data about how pizza lovers like to consume and exactly what factors need to coalesce to make a location a success.”
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