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Income tax

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(Querist)
26 November 2011 if a person sold out his CAR which is personal nature. what is the income tax liabilities of assesses and if it is taxable then which head considerable for this?
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
26 November 2011 It is the personal effects of the assess and therefor it is not a capital asset and not taxable.

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