Taxability of Sachin Tendulkar's Income from Bat Auction.

Other Source

ya it should be other source

yes i agree

i agree tooo

maybe Capital Gains  but i think other sources.

income from other sources

Not taxable at all because capital gains from sale of personal effects is exempt.

what the hell.how come its taxable under other sources. bat is an asset for tendulkar, hence it will fall under capital gain, but  nothing will be taxable as, personnel effects are not taxable. some personnel effects are taxable like gold jewellery and furniture studded with ornaments, but

there was a case before SC in which SC ruled that silver utensils of some xyz king were his personnel effects hence not taxable.

also in some other case SC ruled that shirt of an actor although sold at a much higher price will not be taxable, similarly bat of ST is not taxable...

also one more fact, Income Tax act is applicable on all beings human. its not applicable on God, and as every one will agree that in this part of the world this man named SACHIN TENDULKAR is GOD.

in one interesting case of a south indian actress named khushboo (who gave some remarks about pre marital s*x), which were considered by some section of society as outrageous, the applicant said before SC that the said actress is considered as godess in south india, how dare she passed such unholy remarks, SC (of course in a lighter mood) asked the man how dare he filed a case against a godess!!!....

so dont worry as soon as i will become Finance Minister I will correct this loophole and will bring a new section 80ST to make Sachin exempt from all taxes,whatever they may be. till then pray for me so that i can pass CA final.

other sources

If Sachin (A.K.A God) paid any amount in purchasing that Bat then the auction money will be taxable as Income from Biz or profession

otherwise ( i.e if he recd the bat free of cost from his sponsors) as said by every one it will be taxed as Income from Biz or profession