Treatment of sale of car
This query is : Resolved
30 June 2015
hi friends ..
I want a some clarification..
I have purchased a car in Feb'2008 for 4,33,000 and the same vehicle was sold in last September for 2,80,000.
I want to know the legal consequences form this transaction.
in which head this income or loss is taxable.
thanks in advance.
30 June 2015
That depends on whether the car was for personal use or it was used for any business or profession?
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