Our one client purchased One car of rs. 5600000. So Query is It is required to show in capital gain schedule or pay any tax amount?
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Car purchased query
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Please write specific query in clear cut way.
Purchase of car - How capital Gain?
Tax on what ?
Purchase of car - How capital Gain?
Tax on what ?
Seriously...
Capital Gain is in the hands of the Seller and not the Buyer. So if you have purchased a Car, where is your Capital Gain ? It's a Cash Outflow.
Capital Gain is in the hands of the Seller and not the Buyer. So if you have purchased a Car, where is your Capital Gain ? It's a Cash Outflow.
No capital gain tax
because motorcar is not a capital asset.
because motorcar is not a capital asset.
Even if you assume it to be capital asset, where is the question of capital gain tax on purchase of Car ???
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