+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Tax (https://www.accountancy.com.pk/forum/forum-tax)
+--- Thread: Head of Income (/thread-head-of-income)
Head of Income - dashing_dear - 07-27-2010
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 - 07-27-2010
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 - 07-27-2010
<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 - 07-27-2010
Loss declare karyn or agar koi tax withheld howa hay to usy refund claim kar layn.
- dashing_dear - 07-27-2010
<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[)]