10-01-2011, 06:15 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by student_of_law</i>
<br /><blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by olympia</i>
<br />A person had motor vehicle with 50% contribution with Employer. After completion of specific duration employee sold that vehicle & received full amount. Did he liable to pay any tax on this amount or not?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Make your question a little more specific. give Supposed figures for the following
for how much employer and employee buy the bike.
For how much employee sold it
Whether it paid any money to employer or appropriated all to itself
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
If a vehicle cost Rs 1,000,000 & Employee pay 50% Rs 500,000 after 5 years employee get the ownership of that vehicle now he sold out the vehicle suppose Rs 900,000. Did he liable to pay tax in this case? Someone tell me that this is casual sale & employee didn't need to pay any tax on this income. Is this correct?
<br /><blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by olympia</i>
<br />A person had motor vehicle with 50% contribution with Employer. After completion of specific duration employee sold that vehicle & received full amount. Did he liable to pay any tax on this amount or not?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Make your question a little more specific. give Supposed figures for the following
for how much employer and employee buy the bike.
For how much employee sold it
Whether it paid any money to employer or appropriated all to itself
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
If a vehicle cost Rs 1,000,000 & Employee pay 50% Rs 500,000 after 5 years employee get the ownership of that vehicle now he sold out the vehicle suppose Rs 900,000. Did he liable to pay tax in this case? Someone tell me that this is casual sale & employee didn't need to pay any tax on this income. Is this correct?
