Head of Income

[dashing_dear]

A painter earns his livelihood by selling paintings. Will his profit be taxable under the head Capital Gains? What will be the treatment of loss if he suffers so?

I need this urgently.

[LapTop]

Jab ik painter painting bana kar sale karta hay to ye us ka capital gain nahi ho sakta, ye income us ki normal business income ho gi, kyon k jo paintings wo banata hay wo us ki inventory han or un ko sale karny say usy business income hasil hoti hay.

[dashing_dear]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by LapTop</i>
<br />Jab ik painter painting bana kar sale karta hay to ye us ka capital gain nahi ho sakta, ye income us ki normal business income ho gi, kyon k jo paintings wo banata hay wo us ki inventory han or un ko sale karny say usy business income hasil hoti hay.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
thanks brother aap loss ka treatment bhi thora sa explain kar do plsss

[LapTop]

Loss declare karyn or agar koi tax withheld howa hay to usy refund claim kar layn.

[dashing_dear]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by LapTop</i>
<br />Loss declare karyn or agar koi tax withheld howa hay to usy refund claim kar layn.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
ok thanks[)]