Capital gain tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2014
if a person who has acquired a car by theft now sells the car will he be liable to pay capital gain tax..car is not in his name..he robbed the car..pls advice how we can save him from paying tax..sale proceeds have been deposited in his bank account..is there any other manner of receiving proceeds of sale so that capital gain tax liability does not arise..plz consider my query and do give a suggestion soon...
Sandeep Dharar
(Expert)
02 July 2014
First of all this is an illegal transaction. And secondly the chapter itself closes if it is illegal.
Rupesh Jain
(Expert)
02 July 2014
transaction is illegal forget that
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