Car Sale gain/loss in tax return
This query is : Resolved
17 December 2021
I bought a car in Oct 2017 for Rs 16 lacs and sold the car for Rs 11 lacs in Nov20? Received Rs 11 lacs in my bank account.
How do you show this transaction in IT return? Where do you enter the details for the same?
How do you show this transaction in IT return? Where do you enter the details for the same?
17 December 2021
Whether any depreciation was claimed in earlier years?
Or whether the car was personal asset?
Or whether the car was personal asset?
17 December 2021
No depreciation claimed in previous years.
The car was a personal asset.
The car was a personal asset.
17 December 2021
NO NEED OF DECLARATION OF THE SALE OF PERSONAL ASSETS IN ITR.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
