what is rate of vat on gold ?
and what is the rate of tax applicalbe on sale of gold in
case of interstate sale ?
Answer Posted / shekar
1% vat on purchase of gold.this wiill be same in case of interstate sale
| Is This Answer Correct ? | 19 Yes | 7 No |
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If a person got gold by wining a lottery and TDS on the gold value was not deducted by the deductor. After getting the gold, the person tranfer the gold to his daughter. After reading the provisions of the Income Tax Act, 1961, you are required to state that who is liable to pay the tax on the value of the gold? and is there any liability of the Deductor towards non-deduction of TDS?
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