if car is sold by employer to employee at Re.1 only then what is the way from which employee need not have to pay tax?
and if employee sold that car to another person then what will be tax implication?
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Replies (3)
I should not write here but all employers have some black money and he can gift you car by those black money … employer obliviously does not some proper income..
mostly at the time of selling car there is no profit arise but somehow if you get profit on sale of car than it will be taxable income…
On purchase of car employee need not to pay tax.
However on the sale of that car STCG would be payable by the employee.
Mr. Khan could please clarify in which section it written that gift from employer to employee is not taxable?
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