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wealth related queries

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(Querist)
28 May 2017 suppose I m jeweller I have some ornament which I show them as wealth in earlier days. Now I want to introduce it in my business as an asset can I introduce it in business or not
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
28 May 2017 You can introduce same as your business assets.
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CA. KARAN YADAV

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CA. KARAN YADAV (Querist)
28 May 2017 but how . whether income tax department will raise some queries or not. can you tell me how I can introduce it
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
28 May 2017 No queries raised by IT Deptt. as same is taxable when it is sold out to customer under both capital gain & business and profession head.
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