Menu
Personal effect assets taxable?
does gain from sale of personal effect assets taxable under income from other source since it is not taxable under the head capital gain
Replies (1)
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.
Recent Threads
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
- Purchase of business
- Refund of ITC for advance paid to overseas supplie
- Clubbing query (when gifts given to multiple fami
- Transfer Pricing Audit Upload Form 3CEB - Income T
- Only a Few Pages Indexed by Google Despite Sitemap
Related Threads
CAclubindia
