Whether sale of antique coins come through inheritence will be subject to capital gains. Read a article in outlook wherein it says sale of personal collections are not chargeable to capital gains. The extract from the article is given here.
"Several people collect coins, stamps, paintings or antiques as a hobby, or own antique furniture, antique cars or decorative items that may have been inherited. The primary motive behind these is not investment; the collections have been put together for the pure pleasure of owning them. The collections would, therefore, be regarded as personal effects. And if, for some reason, the collection or a part of it were sold, the profit would not be taxable." (https://money.outlookindia.com/printarticle.aspx?86391)
Kindly advice if there is any case law supporting or against this view.
CAclubindia
