Capita gains arise or not
This query is : Resolved
27 June 2019
I have a car shown in the balance sheet, but I have not claimed any depreciation on it. And the same is used for personal purpose only. In the previous year, I have sold the car and it is used less than a year. Now is it attract any capital gain or loss.
27 June 2019
No capital gains tax payable on this sale. The sale of personal belongings does not attract any capital gain tax.
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