Gain on sale of dollar
This query is : Resolved
SHREEPAL LALWANI
(Querist)
19 November 2014
Dear Sir,
Please solve the below query:
Sir, I have purchased dollar of Rs.30000/- for personal travelling purpose. But I can not go for travelling and I sold dollar in Rs. 40000/-. So gain of Rs. 10000/- is taxable or not as per income tax Act, Please inform.
Please solve the below query:
Sir, I have purchased dollar of Rs.30000/- for personal travelling purpose. But I can not go for travelling and I sold dollar in Rs. 40000/-. So gain of Rs. 10000/- is taxable or not as per income tax Act, Please inform.
Amol S Joglekar
(Expert)
19 November 2014
It is taxable as per Income Tax Act.
SHREEPAL LALWANI
(Querist)
19 November 2014
under which head it is taxable.
Amol S Joglekar
(Expert)
20 November 2014
The purpose for which you bought it else income from other sources
20 November 2014
if ur not a dealer in forex then taxable under the head income from other sources.
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