BUYING AND SELLING FOR JEWELLERY TRANSACTIONS IT ASSESSEE
This query is : Resolved
Quick Summary
Kollipara Sundaraiah
(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.
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.
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.
Message likes :
1 times
07 July 2022
Generally such transactions are treated as business income, so check turnover criteria for maintaining books.
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