BUYING AND SELLING FOR JEWELLERY TRANSACTIONS IT ASSESSEE
This query is : Resolved
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.
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.
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.
Message likes :
1 times
07 July 2022
Generally such transactions are treated as business income, so check turnover criteria for maintaining books.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Sale of Equity shares for Purchase of Residential Property
- ECO SUPPLY REPORTIONG IN GSTR-1
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Payment to foreign customer
- Non issue of e way bill
- Subscription paid to foreign customer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
