Taxability on sale of personnal car

thans sir for reply,,

bt can we claim deprection on this ,, and transferd it to capital account

No, as the car is used for personal purpose than you cannot claim depreciation on that.

It is allowable for the assets used in business purpose.

Thanking you

thanks arpit for your valuble response,,,

According to section 2(45) personal motor car is not a capital assets so transfer of this is not subject to capital gain.

In my above comment instead of 2(14) i have by mistakely mention 2(45)

Thanks Vipin