Sell of personal antiq item

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2015 Please tell me i want to sell my personal antiq item to anyone. but he said to me that he will give all money almost (2 cror) online tranfer. but i am little consfused that what will happen in incometax & what is tax realted problem for me. please resolve my problemm.

Sandeep
9799153444

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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30 September 2015 Congratulations... for such a big deal

It will be treated as capital asset and capital gin tax will be arise as per holding period short term or long term.

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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30 September 2015 BTW i am also having hobby of collection old coins , notes & was having tickets also but as of now no tickets only coins & notes.

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CA. Amit G. Chandani

CA. Amit G. Chandani (Expert)
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30 September 2015 Unless it is any jewelery, archaeological collection, drawing, painting, sculptures or work of an art, there is no capital gain/income tax on sale of any personal item.