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Jayesh Dadia
Chartered Accountant

I am an individual. I owned watches which I had always used for my personal use. In view of the pandemic and slowdown in business and liquidity tightness, I sold some of the watches and received a total sale consideration of Rs20 lakhs through account payee cheques. Will this amount be taxable while computing income for the financial year 2020-21 relevant to assessment year 2021-22?
 

 

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Bulls dominate Sensex & Nifty; Rites gains 6 per cent, ONGC jumps 5 per cent, Bharti Airtel slips

Geyatee Deshpande / Article rating: 4.5

Bulls have made a comeback as the domestic benchmark indices rallied on Monday, starting the last month of the financial year FY21 with a 'boom'. Sensex surged 749.85 points or 1.53 per cent to close at 49,849.84 levels while Nifty jumped 232.40 points or by 1.6 per cent to settle at 14,761.55 levels. 

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