Did you inherit gold jewellery from your parents and are wondering if you need to pay income tax on it? Here’s some good news: under the Indian tax laws, inherited gold is not considered taxable income, so you won’t have to pay income tax just for receiving it.
However, the rules change if you decide to sell any part of that jewellery. In that case, you’ll be liable to pay capital gains tax, but only on the profit you make from the sale, not on the full value of the inherited gold.