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Income tx

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(Querist)
27 May 2014 Income from selling household appliances? Is it taxable under any head??
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
28 May 2014 it is not taxable. household appliances covered under personal use items.
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Rupesh Jain

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Rupesh Jain (Expert)
28 May 2014 it is not taxable it is your personal ue items.
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CA Nilesh P. Kanodia

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CA Nilesh P. Kanodia (Expert)
28 May 2014 Dear Madam,

Selling of Household appliance is your business then it is taxable under business and profession.

or

if you are selling your personal Household appliances then its not taxable, because capital gain is not applicable on personal effects.
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