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Loss on sale of car in the case of individual

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2013 One of our client in the category of individual, has sold car in loss & no depriciation charged therefore is there capital loss on car to be calculated??
& set off can be claimed of capital loss on car??
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
16 July 2013 if it is a long term capital loss then it cn set off.
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
16 July 2013
Please clarify whether its personal asset is sold off.
However since Individual has never charged depreciation therefor it can assume that it personal asset & in that case no Capital Gain/loss required to be computed under section 2(14)
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