- CA HARSH GARG
- Leave a Comment on What are the legal interpretations of “personal effects” and how do they impact capital gains taxation as per Section 2(14)?
What are the legal interpretations of “personal effects” and how do they impact capital gains taxation as per Section 2(14)?
Section 2(14) of the Income Tax Act, 1961 defines "capital asset" and provides an important classification for capital gains taxation. Among the assets that are excluded from the term "capital asset" are personal effects. This exclusion plays a significant
