If we are providing rental services of regular baby products like stroller, what will be the tax implications in such case, also tax effect on sale of such products after a period of say 2 years.
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 12 March 2019
If we are providing rental services of regular baby products like stroller, what will be the tax implications in such case,
Business income u/h. PGBP
also tax effect on sale of such products after a period of say 2 years.
ST capital gains.
ST capital gains.
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 27 July 2019
1. Renting of baby products will be taxable under the head PGBP.
2. And the sale of Stroller after 2 years from its purchase will be charged to tax under the head Capital gains and it will be considered as short term capital assets.
3. I concur with our expert view.
Please correct me if the above solution has an alternative view.
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