Taxability of a pinter
This query is : Resolved
luv beriwal
(Querist)
18 September 2013
sir/mam,
I have a friend of mine who is a painter by profession and he has sold painting of worth rs.200000 in PY 2012-13 without payment of any kind of tax to individuals. and he needs to get his return filed Is there any tax liability on such sale , if any then under which head .
Thank you in advance
I have a friend of mine who is a painter by profession and he has sold painting of worth rs.200000 in PY 2012-13 without payment of any kind of tax to individuals. and he needs to get his return filed Is there any tax liability on such sale , if any then under which head .
Thank you in advance
Ganeshbabu K
(Expert)
19 September 2013
so as there is a basic exemption of 2lakhs,,even though you take total 2 lakhs as income you not required to pay any tax
luv beriwal
(Querist)
20 September 2013
Under what nature of business it must be categorised .any idea?
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