Sale of furniture

Discussion in 'Tax planning' started by jansi, Mar 12, 2014.

  1. jansi

    jansi Member

    I bought a furniture for Rs 20,000 FOR PERSONAL PURPOSES but i sold it for Rs 100000....will i be subject to tax of 80000 rs.......(IN MY OPINION FURNITURE IS NOT A CAP ASSET ACCORDING TO cap gains ).... can u resolve my query?

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