Atharv Sankliya (1289 Points)
30 May 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(159758 Points)
Replied 30 May 2023
Most of the personal effect assets are not taxable unless defined as property u/s. 56(2) of IT act.
Scope of the term ‘Property’ has been specifically defined to mean immovable property, shares and securities, jewellery, archaeological collections, drawings, paintings, sculptures, any work of art and bullion.
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