emergency tax doubt

617 views 4 replies

according to sec 2 (11) block of asset, motor car other than used 4 hiring purpose is taxed at 15%........what if it is used 4 hiring purpose........would it be taxable 4 30%  as motor lorries,buses,etc r liable 4 30%

Replies (4)

I think its 30% but in the IT rules, its not mentioned clearly..let others comment.

it's 30%

Yes. It will be 30%

if the renting the cars is the business then 30%

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