Gain on sale of dollar
This query is : Resolved
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.
19 November 2014
It is taxable as per Income Tax Act.
19 November 2014
under which head it is taxable.
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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