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Capital gain

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(Querist)
05 December 2011 The car is registered in the name of the director. However the car is being used by the Company and the purchase of car is also financed by the company.

Now during the sale of car, the capital gain will be taxed in whose hands?
a. Company or
b. Director
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CA Sreenivasa Rao Munaga

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CA Sreenivasa Rao Munaga (Expert)
05 December 2011 With whom the registration has been done, the capital gain will be taxed with those persons with whom it has been registered.

Please let me know if u have any doubts

Thanks,
CA M Sreenivasa Rao.

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