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Capital asset

Direct Taxation

In capital asset doesn't include personal effect For example Mr ramesh is a common person in his future he is a big celebrity He want to sell his car more than fare market value in this situation it considered as capital asset Video Details ------------- P3A - Income Tax (New) Chp 4.4 - Capital Gains #3. S.2(14): Capital Asset- II

siddesh N

CA Inter

★ 3K+

23-Jul-24 16:50

Answers (1)

No it is not. Even though he is celebrity it is still personal effect.

Shiva Teja

Faculty

26-Jul-24 13:09

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