Business
Selling Family Gold? Here’s The Tax Rule Every Indian Must Know

In Indian households, gold holds a place far beyond its shine. It’s not only a precious metal but also a symbol of tradition, prosperity, and financial security. For generations, families have passed it down as heirlooms—especially during weddings, festivals, and milestones. Along with its emotional value, gold offers financial assurance. But when the time comes to sell inherited gold, understanding the tax rules behind it is crucial. Because selling gold isn’t just about cashing in—it can also mean paying taxes on the gains.

Under Indian tax laws, inherited gold is treated as a Capital Asset. This means that when you sell it, the profit you earn is subject to Capital Gains Tax. Here’s the key difference—while calculating gains, the purchase date and price of the original owner (your parent, grandparent, etc.) are considered, not the date you inherited it. Example: If your grandmother bought gold in 1981 and passed it down to you, the 1981 purchase price and date will be used for tax calculation.

If the gold was purchased before April 1, 2001, you can use the Fair Market Value (FMV) on that date instead of the original purchase price—helpful if no old records exist.

Tax depends on how long the gold was held. Earlier, gold had to be held for 36 months to qualify as long-term. Now, 24 months is enough, as per the Finance Act 2024. Gold held over 24 months is taxed at 12.5% (without indexation). Gold sold within 24 months is taxed as per the income tax slabs.

Gold vs Other Investments Investors often compare gold with stocks (Nifty50) or Fixed Deposits (FDs). Over the past decade: Gold has often outperformed FDs. Stocks may give higher returns but carry more risk. Gold remains a stable long-term investment, and even with a 12.5% tax, the net gain can be significant.

Often, inherited gold comes without receipts. In that case, you can: Get a valuation report from a certified jeweller. Use historical gold prices from the local jewellers’ association. Tax authorities accept both as valid documentation.

Selling inherited gold will attract tax, but the good news is—long-term holdings are taxed at a lower rate, and the profit margin usually stays strong. With the right paperwork—valuation reports, FMV records, or receipts—the tax process becomes simple.
Business
Commercial LPG Cylinder Gets Cheaper By Rs 51.50 From Today; Check City-Wise Rates

Last Updated:
Commercial LPG cylinder prices drop by Rs 51.50 from September 1. Delhi now at Rs 1580 for 19 kg.

New 19-Kg LPG Cylinder Price From September 01.
LPG Cylinder Price Decline: The prices of commercial LPG gas cylinders have been reduced by Rs 51.50, effective from today, September 01. In Delhi, the retail sale price of a 19 kg commercial LPG cylinder will be Rs 1580 from September 1. There is no change in the prices of 14.2 KG domestic cylinders.
On April 1, in a relief to people in the new financial year, oil marketing companies had reduced the price of commercial LPG cylinders. The price of a 19-kg commercial LPG cylinder was slashed by Rs 41.
Latest Rates Of 19 kg Commercial LPG Gas Cylinders
City | New Price (Sep 2025) | Reduction vs Sep 01 | Previous Price (Aug 2025) |
---|---|---|---|
Delhi | Rs 1,580.0 | Rs 51.5 | Rs 1,631.5 |
Kolkata | Rs 1,683.0 | Rs 51.5 | Rs 1,734.5 |
Mumbai | Rs 1,531.0 | Rs 51.5 | Rs 1,582.5 |
Chennai | Rs 1,737.5 | Rs 51.5 | Rs 1,789.0 |
Between April and July 2025, 19 kg LPG prices were cumulatively reduced by Rs 138 in Delhi, Rs 144 in Kolkata, Rs 139 in Mumbai, and Rs 141.5 in Chennai. However, the cost of the 14.2 kg domestic cylinder has remained unchanged since the Rs 50 hike on April 8, 2025, with current prices at Rs 853 in Delhi, Rs 879 in Kolkata, Rs 852.50 in Mumbai, and Rs 868.50 in Chennai.

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
Read More
Business
Digital payments safety: RBI Deputy Governor Rao flags off Chandigarh walkathon; stresses responsible digital use – The Times of India

Reserve Bank of India Deputy Governor M Rajeshwar Rao on Sunday flagged off a walkathon on cyber security awareness at Sukhna Lake here, stressing that banking services, especially digital platforms, are designed for public convenience and must be used responsibly.The walkathon, organised by the Bankers’ Club, Chandigarh, saw enthusiastic participation from bankers across the region, who came together to spread awareness on safe banking and responsible digital practices, PTI reported.According to an official statement, Rao said physical outreach campaigns like this, alongside RBI’s online initiatives, are highly effective in promoting cyber security. He added that while the circulation of counterfeit currency is minimal, people should continue to use the “look, touch, and feel” method to verify notes.Highlighting the shift in banking behaviour, Rao noted that with the rising adoption of digital payments, reliance on cash is declining, ensuring safer and more secure transactions.He also congratulated the banking fraternity for their commitment to promoting cyber safety through such awareness programmes.The event was attended by RBI Executive Directors, Vinod Kumar Arya, Chief General Manager of NABARD (Haryana), Nivedita Tiwari, Chief General Manager of Nabard (Punjab), Krishan Sharma, Chief General Manager of State Bank of India, Lalit Taneja, General Manager of Punjab National Bank, and zonal managers of several other institutions.The Bankers’ Club is a forum of senior bankers in Chandigarh, with members from RBI, Nabard, SBI, PNB, ICICI Bank, HDFC Bank and other financial institutions represented at the Deputy General Manager level and above.
Business
UK secures £10bn deal to supply Norway with warships

Jonathan BealeDefence correspondent and
Jessica RawnsleyBBC News

The UK has secured a £10bn deal to supply the Norwegian navy with at least five new warships.
The agreement to provide Type 26 frigates will be the UK’s “biggest ever warship export deal by value”, the Ministry of Defence (MoD) said, while Norway said it would be its largest “defence capability investment” to date.
The government said the deal would support 4,000 UK jobs “well into the 2030s”, including more than 2,000 at BAE Systems’ Glasgow shipyards where the frigates will be built.
UK Prime Minister Sir Keir Starmer said the agreement would “drive growth and protect national security for working people”.
“This success is testament to the thousands of people across the country who are not just delivering this next generation capabilities for our Armed Forces but also national security for the UK, our Norwegian partners and Nato for years to come,” he added.
The deal is also expected to support more than 400 British businesses, including 103 in Scotland, the MoD said.
Speaking to the BBC, defence minister Luke Pollard called it the “biggest British warship deal in history” and “a huge vote of confidence in British workers and the British defence industry”.
But the move was criticised by some in Norway, including Tor Ivar Strømmen, a naval captain at the Norwegian Naval Academy, who said French and German frigates were superior to British.
“The British Navy builds vessels for one role,” he told Norwegian outlet NRK. “It simply has old-fashioned and quite limited air defence.”
The agreement represents a victory for the British government and defence industry over France, Germany and the United States – which were also being considered by Norway as possible vendors.
It will create a combined UK-Norwegian fleet of 13 anti-submarine frigates – eight British and five Norwegian vessels – to operate jointly in northern Europe, significantly strengthening Nato’s northern flank.
The warships will be constructed at the BAE Systems yard in the Govan area of Glasgow, where frigates for the Royal Navy are currently being built.
Scottish Secretary Ian Murray said the choice of the UK “demonstrates the tremendous success of our shipbuilding industry and showcases the world-class skills and expertise of our workforce on the Clyde”.
Norway’s Prime Minister Jonas Gahr Støre, who informed Sir Keir of the decision to select the UK in a phone call on Saturday night, said the partnership “represents a historic strengthening of the defence cooperation between our two countries”.
Støre said the government had weighed two questions in its decision: “Who is our most strategic partner? And who has delivered the best frigates?… The answer to both is the United Kingdom.”

The Type 26 frigates purchased by the Royal Norwegian Navy will be as similar as possible to those used by their British counterparts, and have the same technical specifications.
They are specifically designed to detect, track, and destroy enemy submarines, with deliveries expected to begin in 2030.
UK Defence Secretary John Healey said the UK would “train, operate, deter, and – if necessary – fight together” under the defence deal.
“Our navies will work as one, leading the way in Nato, with this deal putting more world-class warships in the North Atlantic to hunt Russian submarines, protect our critical infrastructure, and keep both our nations secure,” he added.
Citing this year’s strategic defence review, Pollard said Russia had been identified “as the principal threat to not just the UK’s security but NATO’s security”.
“A key threat of that is Russian submarines in the North Atlantic,” he told the BBC. “These new Type 26 frigates are world-class submarine hunters.”

Eight Type 26 frigates are currently being built at BAE Systems’ Glasgow shipyards for the Royal Navy, to replace its ageing Type 23 frigates – whose service life has already had to be extended.
It is not yet clear how the Norway deal will impact the delivery of the new vessels to the Royal Navy.
A UK defence source said the plan was still to deliver all 8 Type 26 frigates to the Royal Navy within the next decade. Norway has said it wants its first Type 26 delivered by 2029.
British officials told the BBC that the sequencing of delivery for both Norway and the UK still had to be worked out.
Two of the warships, HMS Glasgow and HMS Cardiff, have been built and are currently being fitted out at a second BAE shipyard, Scotstoun. They are due to enter service in 2028.
Another three, HMS Belfast, HMS Birmingham and HMS Sheffield, are under construction.
BAE has also licensed the Type 26 design to Canada and is building the warships in Australia under contract.
As part of a £300m modernisation at BAE Systems, a new shipbuilding hall – dubbed the “frigate factory” – was opened earlier this year.
The Janet Harvey Hall, named after a pioneering female electrician, is large enough for two frigates to be built simultaneously.
The Royal Navy is also buying 5 new Type 31 General Purpose Frigates – which are being built at Rosyth.
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