Gold lease to father properiotership firm

[Bhartesh jain]

Hello everybody

Can i give pure gold to my father gold jewellery properiotership firm on interest. I want to buy gold and earn some extra from the idle gold.i am ready to pay the income tax on the interest earned . Does income tax law allows it ? It will be valuable if somebody point to the relevant section  governing this lease agreement and the procedure to carry on this lease. My ca is not sure about this arrangement but i have read that some apps are already doing it. I dont trust app and want to give gold on lease on my own. 

Thanks in advance 

AI Summary

Gold Jewelry Leasing: Personal Asset Income Potential Through Family-Owned Firm Under Tax Compliance Framework A taxpayer seeks guidance on leasing gold jewelry to a proprietary firm owned by his father, aiming to generate income from idle gold assets. The individual is willing to pay income tax on interest earned and seeks clarification on legal provisions governing such a lease arrangement, noting that some digital platforms already offer similar services. The query focuses on tax implications and procedural compliance for personal gold leasing.