Sale of Motor Car
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2011
Sir,
We are the Registered Trader. We have purchased a Motor Car on 2009, but we have not taken the input of VAT on the said amount since the matter is not related to our business. Now we have planned to dispose off the said Motor Car. Does we have to pay the Tax on Said sale of Motor Car.
We are the Registered Trader. We have purchased a Motor Car on 2009, but we have not taken the input of VAT on the said amount since the matter is not related to our business. Now we have planned to dispose off the said Motor Car. Does we have to pay the Tax on Said sale of Motor Car.
09 June 2011
According to me you have to pay the stamp duty on sale agreement and in case of any capital gain arise than you have to pay tax on capital gain.
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