Capital gains
This query is : Open
27 June 2014
Sale of silver utensils consisting of thalis, katori and tumblers meant for personal use is it taxable under capital gains?
Please help as in T N Manoharan ipcc book it says it is not taxable
Thanks in advance!
Please help as in T N Manoharan ipcc book it says it is not taxable
Thanks in advance!
27 June 2014
no it is not taxable. it is outside the ambit of capital assets.
27 June 2014
no it is not taxable
27 June 2014
Thank you Nikhil and Rupesh Sir but could you please explain this in details as to why not taxable as these are silver utensil doesn't it come under the exception given to jwellery ,painting etc... please help
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