banner_ad

Gain on sale of dollar

This query is : Resolved 
Profile Image

Profile Image

(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.
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
19 November 2014 It is taxable as per Income Tax Act.
Profile Image

SHREEPAL LALWANI

Profile Image

SHREEPAL LALWANI (Querist)
19 November 2014 under which head it is taxable.
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
20 November 2014 The purpose for which you bought it else income from other sources
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
20 November 2014 if ur not a dealer in forex then taxable under the head income from other sources.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details