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Capital Gains

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(Querist)
28 December 2009 Is Computer a Capital Asset OR Personal Effect for an individual who is a salaried employee and the computer is being used by him & his family at home????
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
28 December 2009 It is a personal effect if the use is personal.
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Rahul

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Rahul (Querist)
28 December 2009 Thanks sir. But i am taking coaching of DT from Mr. Vinod Gupta who said it will be a Capital Asset. I thought there must have been a Case Law on this.
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Rahul

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Rahul (Querist)
28 December 2009 Thanks sir. But i am taking coaching of DT from Mr. Vinod Gupta who said it will be a Capital Asset. I thought there must have been a Case Law on this.
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Arjuna Raina

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Arjuna Raina (Expert)
28 December 2009 Computer is a personal effect and it will not be taxable as capital gains.
But personnel effect doesn't include:
1. jewellery's
2. paintings
3. scluptures etc
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