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Sale of car

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2013 Profit on sale of Car whether taxable or not ? if under which section and if not under which section?
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Anil Sankar V

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Anil Sankar V (Expert)
12 July 2013 ya taxable under the head capital gain
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
12 July 2013 it is taxable as capital gain as it is a capital asset provided the seller is not in business of buying and seeling cars, else it would be taxable under business income head.
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