 "Sachin Tendulkar")
The Income Tax Appellate Tribunal (ITAT), Mumbai, has ruled in favour of cricketing star Sachin Tendulkar, in a case pertaining to the taxation of his gains from the sale of shares.
The issue was about whether income earned through engaging the services of portfolio managers should be taken as business income or as capital gains. In the case of capital gains, there is no tax if listed shares are held for over a year, while 15 per cent is payable if they are sold within a year. But, if these are declared business income then the individual tax slabs
The issue was about whether income earned through engaging the services of portfolio managers should be taken as business income or as capital gains. In the case of capital gains, there is no tax if listed shares are held for over a year, while 15 per cent is payable if they are sold within a year. But, if these are declared business income then the individual tax slabs
