Capital assets
This query is : Resolved
Ankit Jain
(Querist)
06 August 2015
can i show my mobile phone as personal assets in balance sheet. and what happen when i sale of this mobile phone on loss.
Amol S Joglekar
(Expert)
06 August 2015
Mobile phone per se is Personal effect unless otherwise purchased and used by the owner.
The personal effects are NOT capital asset subject to however the exceptions like jewellary etc.
The personal effects are NOT capital asset subject to however the exceptions like jewellary etc.
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