Is the personal car sell amount is taxable ?
ABHISHEK GHOSH (Accountant ) (33 Points)
05 July 2017
Dear Sir/Madam,
Is the sale amount of used personal car taxable?
2 Replies
Jaydip
(Student CA IPC / IPCC)
(39 Points)
Replied 05 July 2017
no capital gain on sale of personal car
swapnil harwani
(article)
(72 Points)
Replied 05 July 2017
Car is not covered under Capital asset( except if used in buss ) hence there will be no capital gain on its transfer.
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