Selling gold to raise cash? Know how to sell and the tax implications

Ideally you should sell it to the jeweller you bought the gold from, or a reputable retailer to get a better rate

With gold prices breaching the Rs 50,000/10 gm-mark and hitting a record high, a lot of Indian families are seeing a great opportunity to raise some money by borrowing or selling jewellery bought or gifted to them ages ago. Some may even feel the need to do so because of the situations like Durgesh Rao (name changed on request) is facing. Rao, who is in his thirties, came to Mumbai from Europe during mid-March to meet his sick parents. After getting stuck due to the lockdown, he lost his job. “By selling some of the family gold, I can go