The Tax Code of the Russian Federation establishes that income from the sale of property owned by a citizen is subject to personal income tax (PIT). The tax is calculated on the basis of the entire amount received from the sale of the car. And the owner who sold his iron horse is obliged to file a declaration of income received.
It is necessary
- - documents confirming the amount of the sale of the car;
- - passport.
Instructions
Step 1
Submit your tax return no later than April 30 of the year following the year the vehicle was sold. That is, if the car was sold in 2011, submit the declaration no later than April 30, 2012. If April 30 is a non-working day, submit it on the first working day following it.
Step 2
Require that a receipt be stamped on a copy of the declaration if you submit the declaration in person. And even better - on a copy of the cover letter, which contains the declaration itself and the copies of documents attached to it.
Step 3
If you want to submit your return by mail, please send the documents in a valuable letter with an inventory of the attachment and a receipt acknowledgment. The date of posting will be considered the date of submission of the declaration. When submitting your tax return online, make sure the tax authority is ready to accept your tax return electronically.
Step 4
The rate on income from the sale of property is 13%, however, the law provides for cases of reducing the amount of tax. So when selling a car that has been owned for less than 3 years, deduct 125,000 rubles from the amount received for it. Calculate the tax on the remaining amount.
Step 5
If the vehicle has been owned for more than 3 years, exercise your right to tax exemption. To do this, submit a declaration and write an application for a deduction equal to the amount of income received. The fact is that tax exemption does not occur automatically, but on the basis of an application submitted along with the declaration. In addition, if it is possible to document the fact of the cost of purchasing a car, pay tax on the difference between the purchase price and the sale price.
Step 6
Fill in the declaration in accordance with the 3-NDFL form. To do this, remember the amount indicated in the reference account or the purchase and sale agreement, your TIN, the tax office number (the numbers coincide with the first 4 digits of the TIN). Take a salary certificate from the place of work in the form of 2-NDFL. Try to find billing documents that prove the costs of purchasing an already sold car.
Step 7
Pay the tax amount on your own by July 15 of the year following the year of the sale of the car, if the tax inspectorate does not independently send a notice of tax payment. Rewrite the bank payment details from the information boards of the inspection.
