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Capital Asset

This query is : Resolved 
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(Querist)
23 October 2009
If a person Sold Personal Movable Property which is not a Capital Assets as per section 2 (14).

Then from where we can show the gain or loss in the Computation of Total Income.
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Guest (Expert)
23 October 2009 No capital gains tax is payable on the sale of personal effects, hence should not be shown in computation...

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