Capital gains
This query is : Resolved
02 January 2012
If a capital asset is using for both purposes i.e. 50% for personal & 50% for other purposes and it is sold then for rs. 300000.
how much amount is taxable u/h capital gains or the whole is exempt by virtue of personal effects?
how much amount is taxable u/h capital gains or the whole is exempt by virtue of personal effects?
CA PARAS BAFNA
(Expert)
02 January 2012
Once the asset has been treated as a capital asset, provisions of capital gains would apply on the asset as a whole.
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