As a business, how can I deduct profit by buying gold?

It is dedcutible only if it is used for the purpose of business.

What is your business?

Please feel free to call/ revert in case you need more clarity.

Hi

Buying any asset will not reduce the profits. This cannot be done. You should consider other ways to reduce profits.

Jewellery is a personal asset and hence can not be deducted from profit.

Hello,

Are you in the business of buying and selling gold ??

Hi,

Sorry, unless you are in the business of buying and selling gold or jewellery, you cannot claim it as a deduction.

Regards,

Keerthiga Padmanabhan

M.Com., CA, LL.B