If we are providing rental services of regular baby products like stroller, what will be the tax implications in such case, also tax effect on sale of such products after a period of say 2 years.
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Tax on sale of asset
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If we are providing rental services of regular baby products like stroller, what will be the tax implications in such case,
Business income u/h. PGBP
also tax effect on sale of such products after a period of say 2 years.
ST capital gains.
ST capital gains.
1. Renting of baby products will be taxable under the head PGBP.
2. And the sale of Stroller after 2 years from its purchase will be charged to tax under the head Capital gains and it will be considered as short term capital assets.
3. I concur with our expert view.
Please correct me if the above solution has an alternative view.
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