Resale
This query is : Resolved
Rajnish Kumar
(Querist)
21 July 2017
Hi
I bought furniture in 2008 for about Rs 8 Lacs
Last month I sold them to someone for Rs 2.5 Lacs in Cash
I think its a loss , hence I wont show it as income.
What are tax implications?
regards
I bought furniture in 2008 for about Rs 8 Lacs
Last month I sold them to someone for Rs 2.5 Lacs in Cash
I think its a loss , hence I wont show it as income.
What are tax implications?
regards
Dhirajlal Rambhia
(Expert)
13 October 2021
Loss can be claimed with other income, provided you have used it for your business activity. & had payment received by cheque.
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