LOSS ON SALE OF CAR
This query is : Resolved
CA Vijay Kumar Gupta
(Expert)
24 April 2010
it is short term capital loss if dep. ever has been claimed on it. otherwise it is a capital loss for which no deduction is allowed under the head business or profession.
CMA Ramesh Krishnan
(Expert)
26 April 2010
it can be set off with same nature of ( STCG or LTCG) income only
CA Ravi Sisodia
(Expert)
26 April 2010
Agree , only inter head set off allowed for the case of capital loss.
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