Taxability under which head
This query is : Open
Saurabh Garg
(Querist)
01 June 2015
Sir,
Assesse has purchased gold form E gold auction done by bank,and then sold in later.
He has made some profit form it.
As it is not a regular business for him, the profit made form this will be taxed under which head.
The holding period for gold is less then a month.
Would it be STCG or business income or income from other sources.
Thanks in advance....
Assesse has purchased gold form E gold auction done by bank,and then sold in later.
He has made some profit form it.
As it is not a regular business for him, the profit made form this will be taxed under which head.
The holding period for gold is less then a month.
Would it be STCG or business income or income from other sources.
Thanks in advance....
Nikhil Kaushik
(Expert)
01 June 2015
gold should come under capital transaction.....
Message likes :
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Saurabh Garg
(Querist)
01 June 2015
Thanks sir for ur reply...
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