Capital gains

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 January 2013 I own a car worth Rs.10lacs. If I sell it today, is it taxable or not ? I will sell it at 5lacs.

23 January 2013 Tax is levied on the difference of Sale Price and Book Value of the car. Tell us the book value, means the value after providing depreciation.
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If it is not recorded in the books, then question of taxability does not arise right now.
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 January 2013 thank u...


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