To claim loss on sale of car in personal name
Querist : Anonymous
I have a Car worth Rs. 10,00,000/- in my personal name. Now I want to transfer the same at Rs. 8,00,000/- to my pvt. company.
Can I claim the loss on sale of Car in my personal file. Will it be allowable by Income Tax department.
What will be the situation if I transfer the car in profit. Will profit be taxable in my personal file.
Regarding depreciation, I think Depreciation is not allowable in personal file. Am I Corrrect
Thanks In Advance
Regards
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- ITR-3 File/Error Found
- Difff in ais receipts and gst turnover
- ITR-Capital Gain
- Rental income of jointly held property
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
