An assessee bought a car for personal use and sold it later in the same year 2017-18 for profit. Will profit on sale of car be included in the income? Kindly advise.
Menu
Profit on sale of car
Replies (1)
Car for personal use is not a capital asset So no tax liabilty
Recent Threads
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
Related Threads
CAclubindia
