Used ornaments sale

[mukesh sharma]

Dear All,

I want to sale my parental used silver ornaments approx 50 years old or i have lost the purchases bill

Kindly suggest that can i sale the ornaments and book in long term profit and otherwise any treatment wold be applicable.

Best Regards

Mukesh Sharma

AI Summary

Capital gains treatment for sale of ancestral used silver ornaments questioned due to lost purchase documentation. Taxpayer seeks guidance on tax consequences of selling parental used silver ornaments about fifty years old with missing purchase invoices, specifically whether the sale can be recorded as long term profit and what alternative tax treatment or compliance implications apply.