How many cars were sold in India in 2020?

Published by Statista Research Department, Apr 23, 2021 A record 2.9 million passenger cars and commercial vehicles were sold in India in 2020. This figure then fell by roughly 0.9 million units from the previous year.

How much did Singh and co pay to TS Grewal?

Singh & Co. 20,000 Jan. 3 Paid cartage 300 Jan. 4 Purchased furniture 2,000 Jan. 4 Placed an order for HP Printers for ₹ 15,000, amount advanced 5,000 Jan. 4 Purchased calculator 1,000 Jan. 4 Purchased computer through cheque 13,000 Jan. 6 Paid for postage 150 Jan. 8 Sold goods for cash 4,000 Jan. 9 Sold goods to M/s.

How much did Sharda and co pay on Jan 31?

Sharda & Co. in full settlement of amount due from them 9,750 Jan. 31 Paid for electricity charges 1,000 Jan. 31 Paid salary 1,500 Jan. 31 Paid rent of building by cheque, half of the building is used by the proprietor for residential use 5,000 Jan. 31 Drew for private use 3,500 The solution for this question is as follows:

What is the discount for selling goods to Shruti?

Sold goods to Shruti for ₹80,000 at 15% trade discount and 4% cash discount. Received 75% amount immediately through a cheque. Purchased goods from Richa for ₹60,000 at 10% trade discount and 5% cash discount. 60% amount paid by cheque immediately. 1.

When did I trade in my car for a new one?

In 2016 I bought a new car, for which I use about 50% of the time for my LLC business. In July, 2019 I traded in that car for a new one, of the same make and model.

What is the basis of a trade in vehicle?

You sold the old business vehicle for the amount of the trade in value you were given. Your basis in the old vehicle is what you paid for it less the depreciation portion of standard mileage rate claimed. The basis in the new vehicle is the cost of the new vehicle.

How does the new tax law affect trading in a vehicle?

The new law eliminates the Section 1031 tax-free exchange for all personal property, including vehicles. This change in the law only applies to personal property and not tax-free exchanges of real property. Under prior law, a gain on a trade-in was deferred by reducing the depreciable basis of the replacement vehicle by the amount of the gain.

What does private party value on used car mean?

If you choose to sell your car yourself, the Private Party Value stands as a starting point for negotiation between buyer and seller. These used car values give you a realistic view of what you can expect to receive for your car this week depending on how you dispose of it.