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Can a daughter gift pure gold owned by her to her father?

An unmarried major daughter wishes to gift pure gold owned by her to her father. The gold was purchased by her about 4 yrs back, and the current value of it is double of her purchase cost. How should she go about it? Should she describe the old value of gold in her gift deed? Any tax implications?

Gift Deed: Gift is the transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person called the “donor”, to another, called the “donee”, and accepted by or on behalf of the “donee”.

A daughter can certainly gift gold to her father. There is no Gift Tax.

The capital asset will now belong to the father. The date of purchase and purchase price will remain same (original) in case of any long term capital gain calculations.

In case a Gift Deed is made, you will have to bear stamp duty and registration charges (most probably on the current valuation).

HMT

Kid singing in puregold clark (original upload)

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Pure 18K Yellow Gold SErpentine Necklace 23.75″ Chain 11.0 Grams Claw Clasp $595.00

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17″ Tibet Buddhism Pure Bronze 24K Gold Gilt Cloisonne Shakyamuni Buddha Statue $2,447.20

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16″ Tibet Buddhism 100% Pure Bronze 24K Gold Shakyamuni Buddha Head Bust Statue $1,518.00

#1 Hits of the Sixties-The Pure Gold Collection-NR!-HTF $1.99

RARE 24K 1 GRAM PANDA 999 PURE GOLD BULLION BAR PENDANT 14K FRAME & CHAIN #21481 $740.00

ONE LARGE 15MMx45MM GLASS VIAL FULL OF PURE GOLD LEAF FLAKES – LOT #4 $1.49

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Pure White Jadeite Jade With 24K Solid Yellow Gold Zodiac Hikyuu Pendant $19.50

Jazz Album Benny Goodman, Pure Gold – 1975 RCA ANL1-0973(e) Reissue US, Jazz, $4.99

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100% Pure Organic ARGAN OIL – Moroccan Gold for Face, Body, Hair, Nails- 4 fl oz $19.95

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Mock croc leather belt $65 For a smarter look try this chic mock croc leather belt with gold tone buckle and matching eyelets. Leather backed with double keeper.

Luxe Leather Shoulder Bag $230 70s inspired details with a modern sensibility. A rich tan colour in softer than soft leather. Comes with gold hardware an adjustable strap internal pockets and a magnetic fastening.

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Cashmere Crew neck sweater $142 Combining a relaxed fit with fine rib trims and a neat crew neckline this classic pure cashmere knit is both stylish and comfortable.

Cashmere V-neck sweater $142 Fine rib trims and a neat V neckline give this relaxed fit pure cashmere knit enduring appeal.

Cashmere Half zip sweater $180 In the softest pure cashmere featuring leather piping and a zip pull to match this is a casual essential that’s designed to last.

Pashmina shawl $142 For the ultimate in pure cashmere indulgence our large pashmina shawl with twisted tassel edge has it all wrapped up.

Crinkle scarf $26 A large lightweight pure modal scarf to wrap around shoulders or waist to complement a multitude of looks.

Cashmere Henley $112 Made famous by rowers at Henley this softly shaped pure cashmere number with scoop neck and mother of pearl buttons teams up beautifully with jeans for a sporty look.

Cashmere Sleeveless v-neck sweater $96 Worn over a shirt or layered under a jacket this clean and simply styled pure cashmere knit is a year-round essential with a luxury touch.

Cashmere bedsocks $33 Treat your feet – or someone else’s – with our indulgent pure cashmere bedsocks. Ribbed for extra cosiness these velvety soft socks keep chilly toes toasty warm.

Structured leather shoulder bag $244 A lady-like carry-all that adds polish to every outfit. Designed and crafted in smooth matt leather exclusively for Pure. Practicalities are taken care of courtesy of adjustable strap internal pockets and cotton canvas lining.

Linen drawstring trousers $89 In pure washed linen with relaxed waist tie slant pockets to the front and patch pockets at the back these straight leg casual linen trousers were simply made for relaxing.

Short cotton mac $178 At Pure Collection even rainy days are an excuse to look good. This slightly A-line water repellent mac is fully lined with welt pockets and tab and buckle details to cuffs and neck. Mock horn buttons and an inverted pleat to the back with functional buttoned tab complete the look.

Printed silk full skirt $114 If pleats aren’t your thing but you still want a fuller skirt then this pure silk design is for you. Fully lined in subtle graphic print with panelled detail narrow waistband and concealed back zip it’s also flattering at the waist.

Colour block linen dress $106 With a choice of graphic colour block or plain design this pure linen fully lined dress isn’t short of options. Whichever one you go for a yoke panel keyhole detail at the back and concealed side zip come as standard.

Leather bowling bag $285 Smart yet practical our sumptuous leather bowling bag combines good looks with plenty of space. Contrasting leather panels and silver tone metal trims on the outside. Pockets include a zipped pocket on the inside.

Oversize Shoulder Bag $244 This good sized bag in soft navy leather will give a stylish flourish to many a summer outfit. Clean and simple the contrasting silver tone metal clasp provides elegant detail. Internal pockets plus a zipped back pocket. Choose to wear with short or detachable long strap.

Cashmere V-neck cardigan $114 We don’t believe in gilding the lily. So we’ve only added a simple tubular trim and mother of pearl buttons to our cashmere long sleeved cardigan.

Cropped cashmere cardigan $98 Our ever-popular cropped cashmere cardigan can be as relaxed or as hard-working as you are. Three quarter sleeves round neck and rib-trims are complemented by the soft shimmer of mini mother of pearl buttons.

Cashmere round neck cardigan $114 This timeless essential in natural cashmere will go with just about anything from pearls to jeans. Long sleeved with textured rib trim and subtle mother of pearl buttons it whispers effortless style.

Cashmere round neck sweater $98 Where would you be without this wardrobe staple? In a range of colours to go with any outfit it combines relaxed style and fit in refined cashmere with versatile full length sleeves.

Textured short sleeve sweater $124 Effortlessly smart casually chic this slightly cropped cotton and linen sweater loves layers jeans and skirts. Short sleeves with fixed turn back cuffs offer a cool contemporary touch. Hand-knit cable texture adds a dash of timeless detail.

Cashmere batwing sweater $173 Ever wished you had a jumper that went with anything? Our cashmere batwing sweater with round neck and long sleeves works well with skirt trousers and jeans. Ribbed cuffs tubular neck and hem add the finishing touches.