Income tax - Capital Gains..

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2011 I have boughta Motor car 2yrs ago, which i have used for personal use only..now i have sold the car at loss..can i claim CG loss under capital gains or in any other head of income

prasad

prasad (Expert)
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16 June 2011 Vehicles are not covered under capital assets. Hence, capital loss cannot be set off under any other head of Income or even capital gains

prasad

prasad (Expert)
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16 June 2011 Vehicles are not covered under capital assets. Hence, capital loss cannot be set off under any other head of Income or even capital gains

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prasad

prasad (Expert)
Follow

16 June 2011 Vehicles are not covered under capital assets. Hence, capital loss cannot be set off under any other head of Income or even capital gains