2024 Is selling a car taxable income in india

Is selling a car taxable income in india

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Witryna2 dni temu · Struggling to find contractors for 25 unsold liquor vends, the UT excise and taxation department held the sixth auction on Tuesday after slashing the reserve price by 20%, but could not sell even ... WitrynaThe NRI individual can file for a tax credit in the US for any taxes that he has paid in India. How to file: For tax returns, NRIs in the US need to fill up Form 1040 Schedule E. Taxation in India allows a 30% deduction from rental income. In the US, the actual expenses, like, maintenance and repair, are deducted.

Do I have to declare income from selling a car? If yes, where? - Intuit

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; … Witryna13 sty 2024 · There are some types of 5-year Tax-saving Fixed deposits. These can allow up to Rs.1,50,000 deduction. These special FDs’ interest rate is generally fixed. … how to install old version of itunes

Sale of used car to employees by company, Goods and Services …

Witryna10 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 Witryna6 kwi 2024 · Save Income Tax Under IT Section: 10(16) Max exemption: No upper limit, full scholarship amount is tax-free. Any amount received as a scholarship for education is not taxable. It does not matter if the scholarship is granted by the government or from a private trust. #5. Profit From Selling Shares or Equity Mutual Funds Witryna13 mar 2024 · Short-term capital gains are taxable at 15%. Calculation of short-term capital gain = Sale price minus Expenses on Sale minus the Purchase price. Let's take a look at an example of STCG tax: In … how to install omnisd in jio phone

Capital Gain Tax on Movable Property - Learn by Quicko

Witryna7 kwi 2024 · In this edition of the Simply Save podcast, Moneycontrol's Preeti Kulkarni speaks to Bhavesh Shah, senior partner with Mumbai-based chartered accountancy firm Hasmukh Shah & Co to understand why ... Witryna9 maj 2024 · i.e. sale price - wdv as per Income Tax Act. For eg sale price is 1.6 lakh and wdv as per Income Tax Act is 1 lakh than GST will be applicable on 60000/-. If … jon smith obituaryWitryna12 kwi 2024 · Bond Public Issue Latest -Issues of April’-23. April 12, 2024. 0. 6. Bond Public Issues have become increasingly popular among investors who seek regular interest payments from investing in fixed-income securities. With a minimum investment as low as Rs.10,000, they offer an attractive investment option for those looking to … how to install old version of nodejs

"Witrynaa) Calculate Taxable Income for PT. MAJU MUNDUR! b) Calculate the amount of income taxes that has to be paid by PT. MAJU MUNDUR! c) Calculate PPh Article 25 for the year of 2024, if in 2024 income taxes (PPh) (other than corporate income tax) that has been collected by other parties amounted to Rp525.450.000! Koreksi Positif : … " - Is selling a car taxable income in india

Is selling a car taxable income in india

Tax Query: Do I need to pay tax on the sale of my personal assets?

Witryna1 dzień temu · Apple saw its production in India jump from 1% of all iPhones sold worldwide, to 7%. In the fiscal year ending March 2024, Apple India saw about $7 Billion worth of products being produced in India. ... Because the US does not have an income tax treaty with Taiwan, TSMC will face double taxation on profits from this or any … Witryna30%. *Surcharge: 10% of the income tax, where the aggregate income is between Rs. 50 lakhs and Rs. 1 crore. 15% of the income tax, where the aggregate income is beyond Rs. 1 crore. Cess: 3% of the …

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Witryna22 lut 2024 · As a result, the new owner must declare this income and pay taxes on it. Taxation on inherited property. The Inheritance or Estate Tax was abolished in 1986 in India, and there is no tax liability at the incidence of inheritance. However, an owner of inherited property is liable to pay the annual tax under the head ' Income from house … Witryna9 godz. temu · KoinX, a crypto taxation platform in India, recently announced the launch of a new crypto tax calculator widget, which might help to simplify tax for cryptocurrency transactions. With the launch ...

Witryna2 lis 2024 · Opt for leasing model for cars priced below Rs 15 lakh and when you are in the 30% tax bracket. Hence, the lease model makes more economic sense, if you plan on buying cars that have an ex ... Witryna27 lip 2024 · This is one component that the car buyer could get back because TCS has to be paid by the seller and is included in the cost of the car. On GST and TCS, you …

WitrynaThere is tax efficiency in the capital gains component of bonds, if you sell before maturity. For listed bonds, for a holding period of more than one year, long term capital gains are taxable at ... WitrynaRead this article to find out what are the taxes applicable while buying or selling a car. Skip to Content; ... bike insurance blog brand car care car insurance chola ms health …

Witryna11 kwi 2024 · Azeez explained that REITs, which are liquid real estate instruments, aim to address the two biggest problems with commercial real estate: illiquidity and the size of money that must be invested in such assets. According to him, in a high interest-rate environment (like the status quo), the need for REITs or InvITs does not exist. ET …

Witryna11 sty 2024 · While this question might seem a little complicated, the answer is very straightforward, and the simple answer is you don't have to pay taxes. Instead, the … jon smith orthopaedic surgeon yorkshireWitryna16 mar 2024 · ONLY CAR GIVEN BY COMPANY Q1 Employee gets Basic Salary of 70000 pm. He is given a BMW Car (2500 CC) by the company The company pays … how to install old intel graphics driversWitryna13 kwi 2024 · The process for using the ITC for payment of GST demand is as follows: Log in to the GST portal and go to the ‘Services’ tab. Click on the ‘Ledgers’ option and select the ‘Electronic Credit Ledger’. Select the ITC that is available for utilization. Click on the ‘Set-off’ button and select the GST demand for which the ITC is to ... how to install old windows 10Witryna7 paź 2024 · Two sections are attracted of Income-tax Act, 1961. According to section 206C (1F) of Income-tax Act, 1961 Seller is required to deduct TCS @1% on sale of … jon smith githubWitryna30 lis 2024 · Thus the car insurance premium is also slightly higher for commercial/business cars. In the case of self-employed people, car insurance can be … jon smith orthopedic surgeonWitryna21 lip 2024 · Yes, you must pay vehicle sales tax when you buy a used car if you live in a state that has sales tax. However, you do not pay that tax to the car dealer or … jon smith pinderfieldsWitryna16 wrz 2024 · The inflation adjusted cost and LTCG on it will be calculated as follows: Answer: Inflation adjusted cost or indexed Cost of Acquisition (ICOA): (289/200) X Rs 20 lakhs = Rs 28,90,000. Long term Capital Gain (LTCG) on Land will be= Rs 50,00,000 – Rs 28,90,000 = Rs 21,10,000. Read Also: Income tax on shares and securities in India. how to install omnichannel in d365