Q1 a person buysand sells a number of vehicles in a tax, Ask an Expert

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Q1) A person buysand sells a number of vehicles in a tax year and makes asignificant amount of profit in the process. Will such profit betaxable as capital gain?

Q2) Aperson somehow gets hold of an extraordinary rare bird, keeps it asa pet for two years and then sells it off. Will related profit be taxable as capital gain?

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Accounting Basics, Accounting

Category:- Accounting Basics
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