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Sell of personal antiq item

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 September 2015 Please tell me i want to sell my personal antiq item to anyone. but he said to me that he will give all money almost (2 cror) online tranfer. but i am little consfused that what will happen in incometax & what is tax realted problem for me. please resolve my problemm.

Sandeep
9799153444
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CA Mehta Ankur N.

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CA Mehta Ankur N. (Expert)
30 September 2015 Congratulations... for such a big deal

It will be treated as capital asset and capital gin tax will be arise as per holding period short term or long term.
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CA Mehta Ankur N.

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CA Mehta Ankur N. (Expert)
30 September 2015 BTW i am also having hobby of collection old coins , notes & was having tickets also but as of now no tickets only coins & notes.
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CA. Amit G. Chandani

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CA. Amit G. Chandani (Expert)
30 September 2015 Unless it is any jewelery, archaeological collection, drawing, painting, sculptures or work of an art, there is no capital gain/income tax on sale of any personal item.
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