Taxable or taxfree
This query is : Resolved
Satyanarayan R Maniyar
(Querist)
25 December 2013
my dog gave birth to three pappies which has market value of Rs 29000 is it taxble income or taxfree how and where to show this in return
25 December 2013
giving birth by pet is not taxable.
CA VISHNU GAVKARE
(Expert)
28 December 2013
pappies are animals. as per definition of capital assets it does not fall in to exception. it can not be said it is movable in nature as it is live animal. hence it shall be taxable under capital gain when you transfer them. till the time you urself hold them no question of tax arises.
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