Is selling a car taxable income in india
WitrynaRs. 600 per month (plus Rs. 900 per month, if chauffeur is also provided to run the motor car) shall be taxable value of perquisite. Rs. 900 per month (plus Rs. 900 per month, if chauffeur is also provided to run the motor car) shall be taxable value of perquisite. Nothing is deductible in respect of any amount recovered from the employee. 2 WitrynaAnswer (1 of 5): Hi Natarajan Shanker, This depends on the purpose towards which such car was used. If it was used for your business purposes and was considered as a …
Is selling a car taxable income in india
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Witryna7 kwi 2015 · 07 April 2015 My earlier reply stands corrected. Car used for personal purpose will be personal effect and not treated as capital asset as per definition in … Witryna16 wrz 2024 · Here, the EMI will amount to Rs. 1,33,273, of which the interest will be Rs. 15,000 for the first month, and the principal amount equals Rs. 1,18,273. Here, an …
Witryna9 wrz 2024 · Sheena buys a car worth Rs 10 lakh (remember this is the actual cost of the automobile, not its "on-road" cost which includes elements like registration fee) … Witryna10 kwi 2024 · Rs. 1,87,500 + 30%. NRI income tax slab rates AY 2024-23. Note: Income tax exemption limit for NRI taxpayers is up to Rs. 2,50,000. NRIs opting for the new tax regime with lower rates will not be eligible for certain exemptions and deductions (like 80C, 80D, 80TTB, HRA).
Witryna20 mar 2024 · Income Tax Rules for NRIs When Selling Property in India. Published:Apr 10, 2024, 15:00. Pay Land Tax Bihar Online on Biharbhumi 2024 … WitrynaTMF Group is a leading global provider of high-value business services to clients operating and investing globally. We focus on providing specialized and business-critical financial and administrative services that enable our clients to operate their corporate structures, finance vehicles, and investment funds in different geographical locations.
Witryna29 lis 2024 · Whether a car in personal use for 6 years sold at a profit ,will the gain taxable under provisions of the Income Tax Act, 1961; PROBLEM 1- Mr. X, a resident ind. Menu. Income Tax. Articles; …
Witryna12 kwi 2024 · The new index generates a high yield utilizing alternative income asset classes San Diego-based index developer EQM Indexes announces the latest in its suite of Income Indexes, the EQM High Income ... boiling point of mineral oilWitryna16 mar 2024 · In other words, if you sell a car for $4,000 after buying it for $1,000 (for a $3,000 profit), you may need to pay a capital gains tax on that profit, but you don’t … glow golf short pumpWitryna25 mar 2024 · The seller retains them. However, certain tax benefits/deductions that are available to an undertaking may be available to the acquirer when the undertaking as a whole is transferred as a going concern as a result of a slump sale. ... Several possible acquisition vehicles are available in India to a foreign purchaser. Tax and regulatory … glow golf southamptonWitryna1 dzień temu · The highest tax surcharge rate has been reduced from 37% to 25% under the New Tax Regime for total income exceeding Rs 5 crore, thus reducing the effective tax rate from 42.744% to 39%. Tax ... glow golf short pump vaWitryna10 cze 2009 · I am a salaried employee I had bought a car WagonR Lxi in June 2003 and sold it off inJuly 2008 after 5 years The total proceeds received from the sale of the old car was Rs 1 87 000 Is the money received from the sale of the old car Taxable If taxable then how much tax do I have to pay - Income Tax Tax queries boiling point of mtoWitryna10 cze 2024 · This car is just my personal car i imported for family use. I imported a car and now want to sell it to another person that dont know just like selling a normal second-hand car. 1. I can make profit on this transaction. say i bought the car at $65,000, but sell it at $90,000. Is it included in my assessable income? glow golf suppliesWitryna18 cze 2024 · However, if the person has held the stocks as an investment, the gains arising therefrom shall be taxed under the head 'capital gains'. Similar to income from … glow golf vernon hills