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Gift of car received from non relative


bharath chandra   17 December 2020

bharath chandra

 1 points

| My Other Post

can i assume that as car is not defined in property so not taxable under income tax act?

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Aditi Kaur (Practising CA)    18 December 2020

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yasaswi gomes   17 December 2020

yasaswi gomes

 134 likes  2239 points

View Profile | My Other Post

Yes because you did not use company money. However, gift tax might be applicable pls check that out.

https://www.caclubindia.com/forum/gift-of-car-74865.asp


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