wealth related queries
This query is : Open
CA. KARAN YADAV
(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
CA Rashmi Gandhi
(Expert)
28 May 2017
You can introduce same as your business assets.
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
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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