GST Practitioner
55067 Points
Joined June 2017
*** When it is sold.
Due know Actionable claims :
Lottery
Betting
Gambling
Debentures
Dividend on shares
Right shares
Negotiable instruments e.g. Bills of Exchange and Promissory Notes etc.
Bank guarantee
Fixed Deposit Receipt (FDR)
Insurance claims
Share in a partnership property
And out of above only Lottery, gambling & betting is taxable ... Why because ...it's being excluded in Schedule III