capital gain on sale of car
(Guest)
is there any tax liability on sale of car??
5 Replies
priyankagupta
(article)
(361 Points)
Replied 24 July 2018
No. Capital gain is leviable only on capital assets. Car is not a capital assets.
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 25 July 2018
Yes... I agreed to Ms Priyankagupta's reply.
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 25 July 2018
If it's business then transfer to PandL account...
If individual then no more effects.
If individual then no more effects.
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