LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

rks (owner)     27 September 2014

Legal issues in selling laptop in india bought in usa

Dear All, I wish to know about the legal / tax issues involved in selling a used laptop in India which was bought in new condition in USA about 4 months ago. Thanks, RKS


Learning

 1 Replies

Hardeep (Business)     27 September 2014

AFAIK, if the asset is being used for personal purposes, there is no tax liability since it will not be considered a Capital Asset. But if its primary use is for your business and it is shown in business books, the  loss/ gain from such a sale  would fall under short term capital loss/ gain and be taxed accordingly.

 

DISCLAIMER : General information and advice provided is without any warranties as to suitability for any use, correctness and application to any specific case. Please always take proper legal counsel . However, if it helped anyone even a little a " thanks" would be appreciated and would encourage me to keep on making efforts :-) . I am also always open to corrections and further learnings from more experienced Seniors here.

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register