4/26/16

Capital Gain Tax on collectibles - Gandhi India stamp sold for $205000.- World Record Price of a stamp.

In USA I just paid my taxes on April 18th and it's complicated when you have to calculate Capital Gain Tax which apply on stamp collection also. 

You have to pay Capital Gain Tax on hobby also.!! So I was wondering how much money seller has to pay in Capital Gain Tax in 2012 for Gandhi Service stamp which was sold for $205000.

My opinion about Gandhi overprint SERVICE stamp is nothing but BOGUS (never exist) which can be easily overprint and no one will know.!! ( You just have to let people know about it).

India Gandhi SERVICE overprint stamp is nothing but to make money by some famous collectors/dealers when they realize they can make money by overprinting and claim as genuine.

There are even FORGERY of this BOGUS stamp also.!!


Even BOGUS are selling as genuine with Forged Expert Certificate.!!



IN PAST I WROTE BLOG POST Gandhi SERVICE STAMP which will explain it why I called it BOGUS.

Click to  read it or just scroll down and you will see complete blog post.

http://gandhistampsclub.blogspot.com/2015/12/rajagopalachari-governor-general-of.html

My opinion is like Expert Committee.!!

Don't take any responsibility or liability.!!

And you also don't have to believe my opinion.!! 

In May 2011, Gandhi 10 Rupees SERVICE overprint stamp was sold for $205000.!!  It's original price was 10 Rupees in 1948 (about $2).


Also you can search on google and you will find tons of information about this Gandhi SERVICE Stamp sold for world record price.



But for this blog post let's forget about my opinion and think it is genuine so we can predict how much profit is made on this not only by seller but also by
  • Stamp auctioneer got commission.
  • Seller's Country where Capital Gain Tax was paid
  • Seller's Country where State Tax  or VAT was paid.

Do you think it was really sold for this price ? As per all the news we read in newspaper, blogs, websites etc  it looks like it was sold. 

So seller has to pay lot of capital gain tax on this $205000.

My general estimate for capital gain tax on this collectible item it will be about $35000 - $60000.!! depending on country and seller's buying price.

Lot of money for any government.!!

Do anyone know which country got this capital Gain tax ? (Is it India or UK or USA or ?)

Do you really think Capital Gain tax was paid for this auction by seller?

Do any country cares about this kind of capital gain tax ?

Do you know who is the seller ?

As per Gandhi stamp and philatelic Handbook(Cannot trust this book) as well as other website/blogs/stamp exhibit which specific that only  7 or 11 or 18 ( or more) stamps is known to be with private collector.!! (So it's one of the collector selling it ?)

Do you know who is the buyer ? (needs to pay capital gain tax on this when he sells).

So do you think it one of the seven or eleven known collector who has this stamp is selling this. ?

But how we know all this things ?

IT WILL BE VERY HARD TO FIND ALL THIS INFORMATION.

But we still believe that this is one of the expensive India stamp without actual knowing anything about this stamp.!!!

So what do you think about Capital Gain Tax, Sales Tax/ VAT on this stamp ?

Do any country got it ?

Thanks
GSC


1 comment:

  1. Many people will get lot of benefits by reading this kind of informational stuff .Thank you so much for this .
    Pincodestreet

    ReplyDelete

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