Encik Ali and Puan Aminah are teachers in a primary school in Merang, Terengganu. Both of them love cats very much. They have spent a lot of money to keep a number of beautiful cats from various types: Persian Cat, Scottish Fold Cats, Maine Coon Cat, Sphynx Cats and Devon Rex Cats. One day, Mr Siva came and he is interested to buy a few of cats that belongs to the couple. A sum of RM700 is paid for 3 lovely cats sold to Mr Siva. The proceeds from the sale of cats is taxable. Select one: True False