An asset other than those specified u/s 2(14) are sold will the net income taxable under the head other source??
To explain my question for e.g any moveable capital asset if sold at a profit will not be capital gain as it is not a capital asset ....will this income be taxable under the head other source i.e sale considertation- cost).. Pls note that the personal asset is not the depreciable asset and we are not claiming the depreciation on it , therefor the point of the STCG u/s 50 also does not arise...
Pls give your opinions...
Regards
Bonita
CAclubindia
