LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

sale of silver utensils

Saket Mishra (367 Points)

09 July 2019

what is the taxability on sale of silver utilensils be individual ???

Reply
Follow
Share

3 Replies

rishi (student) (408 Points)
Replied 09 July 2019

if used for personal or household purpose, capital gains shall not arise and consequently no tax is payable

2 Like

Priya Kashyap (Student) (7048 Points)
Replied 09 July 2019

Silver utensils which are held for use in the kitchen or in the dining room are treated as personal effects and not capital assets. However silver bars, sovereign, bullion and silver coins are not treated as personal effects and hence these are capital assets

2 Like