Will profit on sale of a car used for personal purposes be taxable under the IT Act?

FCS Deepak Pratap Singh , Last updated: 29 November 2021
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INCOME TAX QUESTIONS ANSWERS SERIES PART - XXVI Whether the profit on sale of a car in personal use for 6 years be taxable under provisions of the Income Tax Act, 1961 PROBLEM 1: Mr. X, a resident individual is maintaining a car for his personal use. He has sold the care after a period of 6

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Published by

FCS Deepak Pratap Singh
(Associate Vice President - Secretarial & Compliance (SBI General Insurance Co. Ltd.))
Category Income Tax Report

Will profit on sale of a car used for personal purposes be taxable under the IT Act?

You have reached daily limit of 2 Free Articles. To view this or other Articles please subscribe to CCI PRO :

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Original Price : INR 2999/-

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