So you just inherited some gold jewellery from your parents or grandparents. Nice. It’s got sentimental value plus actual money value. But maybe you’re thinking of selling some of it for practical stuff. A house down payment. Your kid’s education. Paying off debts. And now you’re wondering: “Do I have to pay tax on this?” Short answer? Yes, but only when you actually sell it for cash. Understanding the tax stuff helps you plan better. No surprises later when you get cash for gold in Mohali or anywhere else in India.