Hi All
one of my client has sold his club membership. whether this is taxable under the head Capital Gain.
please refer relevat case laws.
Please reply ASAP. its urgent
Thanks
Shivish Verma (C A) (376 Points)
18 July 2013Hi All
one of my client has sold his club membership. whether this is taxable under the head Capital Gain.
please refer relevat case laws.
Please reply ASAP. its urgent
Thanks
work is worship
(Service)
(2728 Points)
Replied 20 July 2013
Yes, this sale would be considered a capital transaction unless you were in the business of selling memberships.
Need to check on case law if any..
Mihir
(Wealth Manager)
(5293 Points)
Replied 20 July 2013
It will attract capital gain. Transfer of right to enjoy certain facilities on an immovable property.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
