Capital Reciept

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10 Points Posted on 26 January 2020
is capital Reciept under PGBP is taxable.? if not then why?
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On 26 January 2020 at 20:59 Report
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This discussion explores whether capital receipts are taxable under the Profit and Gains from Business or Profession (PGBP) head. The general principle is that capital receipts are exempt from tax unless there's a specific provision to tax them. Participants are encouraged to be precise about the specific capital receipt in question, as the taxability can depend on its nature.

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Managing Partner at TAXounting
8742 Points Posted on 26 January 2020
Capital receipts are exempt from taxation unless there is a specific provision to tax it
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On 26 January 2020 at 22:43
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17269 Points Posted on 26 January 2020
Be specific
which capital receipt you are particularly referring to ?
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On 26 January 2020 at 23:42
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Profession
28271 Points Posted on 27 January 2020
@ lokesh
do not use PGBP
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On 27 January 2020 at 07:23

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