Query on capital gains
Phanendra (proprietor) (24 Points)
24 February 2016
whether the gold coins won in lucky draw, when transferred after an year will attract the capital gain tax?
Rashi Bajaj
(CA)
(752 Points)
Replied 24 February 2016
Yes, capital gain tax is chargeable on the amount of gain.
Gain= Net sale consideration - Value of lottery which was taxed earlier.
CAclubindia
