Inherited Gold Sale: New Tax Rules & Exemption Claims Explained

• Inherited gold is not taxed as income, but capital gains tax applies upon its sale.
• Since July 2024, the long-term capital gains holding period for gold is 24 months, down from 36 months.
• Long-term capital gains on inherited gold are now taxed at 12.5%, and the indexation benefit has been removed.
• Short-term capital gains (gold sold within 24 months) are taxed according to the taxpayer's income slab.
• Exemption under Section 54F allows capital gains to be tax-free if proceeds are used to buy or construct a house within specified timelines, with a maximum house cost of 10 crore rupees.

Why It Matters: Selling inherited gold incurs capital gains tax, but exemptions are possible by reinvesting in a house.