tarandeep singh saluja (CA FINAL) (398 Points)
20 February 2011Suppose Sachin Tendulkar had bought a new bat for Rs. 15000.00 Only and after using that bat for couple of years he decide to sold his bat for auction in auction he sold his bat for Rs. 50Lakhs
This type of situaton mostly occurs in real also I want to ask that in which head this income of sachin tendulkar will be taxable either in capital gain or IFOS
Pls give the answer with the explanation with the calculation if any.............
Thanks in advance..........
APOORV SAXENA
(Chartered Accountant)
(794 Points)
Replied 20 February 2011
Karan Teli
(Life Is just an Illusion...!!)
(4573 Points)
Replied 21 February 2011
| Originally posted by : APOORV SAXENA | ||
 |
hey...what i feel is it should be taxable u/h CAPITAL GAINS as we can treat his bat as a capital asset as capital assets also means "PROPERTY OF ANY KIND HELD BY ASSESSEE INCLUDING HIS PROPERTY OF BUSINESS OR PROFESSION" |
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agreed with her....
APOORV SAXENA
(Chartered Accountant)
(794 Points)
Replied 22 February 2011
@ karan....dude i m male....not HER !!
vivek
(Auditor)
(61 Points)
Replied 22 February 2011
whether more then 20000 pay in cash to electricity(Gov) department is liable to disallow u/s 40A(3)
vivek
(Auditor)
(61 Points)
Replied 22 February 2011
whether cash more then 20000 directly deposit in party bank account via deposit slip is disallowed U/S 40A(3)
Plz answer this question
Karan Teli
(Life Is just an Illusion...!!)
(4573 Points)
Replied 22 February 2011
really sorry Apoorv..
i had oversighted your name as apoorva...
heartly apologising u....
APOORV SAXENA
(Chartered Accountant)
(794 Points)
Replied 28 February 2011
its fine karan !! no problem !! :)
CAclubindia
