Tax on sale of personal cars

dear friend

it is immeterial whether the car is an wintage car or of any other nature.if it is used by the assesee for his personal use then this transaction will not attract capital gain bcoz it is not an capital asset the transaction will be tax free

Since ANY CAR OR MOVABLE ASSETS FOR PERSONAL USE (except jwellery)is not a capital asset.... its sale is not taxable

in my opinion vintage car will be included in the definition

since  vintage cars can be sold at millions of rupees(more or less) so why not they will be included in the definition?

and there are also museums for vintage cars so it will be included in "work of art"

https://www.rediff.com/money/2004/apr/30tax1.htm

here is the link

dear friend sorry for posting a wrong reply earlier but i think mr. vivek is right

Revenue must investigate factum of personal use - Irrespective of the claim put forward by the assessee that he is having articles for personal use, the revenue has to investigate whether the articles are required for the personal use of the assessee as claimed by the assessee or whether the articles are in excess of the requirement of the personal use of the assessee so that they will fall within the definition of capital assets in section 2(14) - R. Ramanathan Chettiar v. CIT [1985] 152 ITR 493 (Mad.).