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whether sale of furniture is liable to capital gains tax?
Subject: whether sale of furniture is liable to capital gains tax?
Category: 
Asked by: Jagdish
Answered by:
Tags: ,
Date: May 9, 2021
Excerpt of answer:
We presume that the stamp Authorities have accepted the value of House property at Rs 95 lakhs shown in the agreement . Furniture is a personal effects as per the definitions u/s Section 2(14)(ii) of the Income -tax Act , 1961 . If the assessee is able to demonstrate that the furniture sold was used… (read more)