recd a car from a friend on 1/11/2009 is taxable or not?
This query is : Resolved
04 February 2010
recd a car from a friend on 1/11/2009 is taxable or not?
05 February 2010
taxable amount will be:
the fair market value of the car
less: consideration, if any paid by you.
the fair market value of the car
less: consideration, if any paid by you.
05 February 2010
but sir i think in the given defination car is not covered ,movable property means jewelary ,securities ,painting etc only plz clear my dout sir
05 February 2010
i m sorry. you are right. movable property doesn't include car.
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