Sale of gift received


This query is : Resolved 

(Querist)
06 July 2013 If i sell the gifts for a price then how will the profit be calculated. Will the purchase price be taken as zero?

06 July 2013 Yes cost willbe taken as 0.

Shanti (Querist)
06 July 2013 will the profit on gift items be taxable?

06 July 2013 IT DEPENDS ON THE AMOUNT.




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