Menu
capital gain on sale of car
is there any tax liability on sale of car??
Replies (5)
No. Capital gain is leviable only on capital assets. Car is not a capital assets.
Yes... I agreed to Ms Priyankagupta's reply.
If it's business then transfer to PandL account...
If individual then no more effects.
If individual then no more effects.
Recent Threads
- Belated ITR 3 + 10IEA
- ITC related queries
- GSTR- 9 query to rcm
- Calculation of Borrowing Cost as per AS 16
- GSTR 9C
- Presumptive tax 44ADA
- Performances of actors and singers
- Discount Received Income in GSTR  - 9
- Whether afer responding to query amount of expen
- Sample of board meetings of a private limited comp
Related Threads
CAclubindia
