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![[Post New]](/forum/templates/default/images/icon_minipost_new.gif) 27/04/2009 14:56:17
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JaswinderSingh
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I had purchase a car from my personal a/c for Rs.6 lakhs in FY 2005-06, & had taken loan to meet the cost. I want to know is any exemption available for such payment(similar to home loan) further I now Intent to sell this car for Rs 3.2 lakhs, what shall be the capital gains/loss attracted on such sale.
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28/04/2009 13:56:54
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Tabrez
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There is no tax benefit available on repayment of car loan however the good news is Car used for personal purpose will be considered as personal effect and not treated as capital asset as per definition in section 2(14) thus there shall be no tax implication involved and no capital gain or loss shall accrue.
Download free income tax calculator
This message was edited 1 time. Last update was at 30/06/2009 09:36:14
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20/06/2011 19:29:49
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Anonymous
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Hi,
I want to take vehicle on loan.Is this tax exempted?
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20/06/2011 19:31:08
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Anonymous
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JaswinderSingh wrote:I had purchase a car from my personal a/c for Rs.6 lakhs in FY 2005-06, & had taken loan to meet the cost. I want to know is any exemption available for such payment(similar to home loan) further I now Intent to sell this car for Rs 3.2 lakhs, what shall be the capital gains/loss attracted on such sale.
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07/07/2011 11:12:26
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Anonymous
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iam an advocate i purchased a car by loan,can i get any deduction from income tax?
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02/09/2011 16:29:27
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Anonymous
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my company providing the car allowence which will be credited to my salary account , if I take a bank loan to buy the car , whatever the interest paying to bank will it get tax exemption like House loan ?
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28/09/2011 10:21:42
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Anonymous
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how much donation can paid any emploee
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15/12/2011 14:46:52
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Anonymous
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Anonymous wrote:
JaswinderSingh wrote:I had purchase a car from my personal a/c for Rs.6 lakhs in FY 2005-06, & had taken loan to meet the cost. I want to know is any exemption available for such payment(similar to home loan) further I now Intent to sell this car for Rs 3.2 lakhs, what shall be the capital gains/loss attracted on such sale.
teri ... tax kyu nai dida tu ??
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03/01/2012 16:26:21
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Anonymous
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Anonymous wrote:how much donation can paid any emploee
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02/02/2012 21:09:05
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Anonymous
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JaswinderSingh wrote:I had purchase a car from my personal a/c for Rs.6 lakhs in FY 2005-06, & had taken loan to meet the cost. I want to know is any exemption available for such payment(similar to home loan) further I now Intent to sell this car for Rs 3.2 lakhs, what shall be the capital gains/loss attracted on such sale.
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