Car received in gift

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Shanti (Querist)
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03 February 2017 If i receive car by way of gift is it taxable

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Sandeep Dharar (Expert)
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03 February 2017 Other than received from relative.

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Shanti (Querist)
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03 February 2017 Does car come under specified movable property

Bhaskaran Chackrapani Warrier (Expert)
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03 February 2017 Car is not a 'property' as per explanation (d) to section 56(2)(vii).

Sandeep Dharar (Expert)
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03 February 2017 Agreed with Chackrapani Sir

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