sale of silver utensils
Saket Mishra (367 Points)
09 July 2019
what is the taxability on sale of silver utilensils be individual ???
3 Replies
rishi
(student)
(408 Points)
Replied 09 July 2019
if used for personal or household purpose, capital gains shall not arise and consequently no tax is payable
Priya Kashyap
(Student)
(7053 Points)
Replied 09 July 2019
Silver utensils which are held for use in the kitchen or in the dining room are treated as personal effects and not capital assets. However silver bars, sovereign, bullion and silver coins are not treated as personal effects and hence these are capital assets
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