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BUYING AND SELLING FOR JEWELLERY TRANSACTIONS IT ASSESSEE

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(Querist)
05 July 2022 SIR,
one of the it returns non fileing person buying and selling for gold jewellery ,coins bars,biscuits some transactions in f.y. 21-22.
Question:
1.Assessee it returns filed compulsory
2.Buying and selling transactions capital gains tax applicable.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
05 July 2022 1. Only if total income more than Rs.2.5 Lakhs. 2. Depends on number of transaction whether capital gain or business.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 July 2022 Generally such transactions are treated as business income, so check turnover criteria for maintaining books.




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