Capital gains
This query is : Resolved
03 July 2009
Capital gains on car sold by an individual who has only salery income. Will this transaction attract capital gain.
03 July 2009
For an individual, a car is a personal effect, thus any gain arising on sale of a car is not taxable in the hands of the an individual.
03 July 2009
it will not attract capital gain if its owned and used by the asseesee for its personal use.
03 July 2009
Agree with Devanshi.
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