Loss on sale of car
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 November 2016
i have sale a car amount of rs 199000 in 2015 date of purchase 2011 amount of rs 575000 . i have not claim depreciable value in itr so what i do
13 November 2016
First, you should have disclosed whether you are a businessman or professional or employee. If you are an employee then section 45 will apply and a car will be considered a capital asset u/s 2(14). However, as per section 48, there will be no capital gain. Hence there will be no income tax.
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 November 2016
income considered to income from other sources than what i do?
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