Capital Gain of sold of car

Last year I sold my car at 11 Lakh which purchased at 12 Lakhs rupee and got payment in my bank account but it is not showing on my AIS do I need to fill ITR2 and show as captial gain or loss or not required.

Replies (6)
Quick Summary
This discussion clarifies whether selling a personal car results in a capital gain or loss that needs to be declared on your tax return. Generally, if the car is a personal asset, any profit or loss from its sale is not taxable and does not need to be reported, even if the amount is significant. However, if the car was used for business purposes, then capital gains would apply and need to be declared.

Not required if personal asset.

Minimum gain

I need to show in my ltr or no need for same ? 

If any business asset, need to declare.

I am a salary person not doing Bussiness but amount is above 10laks so I was thinking that I need to show in itr ? 

No. Not needed for personal asset.

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