It assessee sale amount received from any personal assets(motar cycle, jewellery, furniture , etc) amount credited by capital account.
Question:
Assessee sale amount from personal assets taxable or exempted in it act.
kollipara sundaraiah (B.com) (2633 Points)
03 December 2021It assessee sale amount received from any personal assets(motar cycle, jewellery, furniture , etc) amount credited by capital account.
Question:
Assessee sale amount from personal assets taxable or exempted in it act.
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 03 December 2021
Not taxable in case of personal effects and furnitures but taxable in case of jewellery