Tax treatment of sale of Household Goods

Income Tax Income from Capital Gains
1

Is capital gain/loss applicable on sale of Household goods not used for any business purposes ? If I bought some household furniture for 50k and sold it off for 20k a few years later, can I claim any capital loss on it ? If not, does the receipt of 20k need to be reported anywhere in the ITR form ?

Thanks in advance

2

Hey @RanS,

We cannot claim capital loss for such household goods.

No, such receipts need not be reported.

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3

Thank you @Surbhi_Pal . Are capital gains on sale of Household Goods also correspondingly exempt from taxation ?