28 April 2015
I am a property dealer , I have property( shown as stock) actually purchased in 2006 for 80,00,000 but shown in books of accounts as for 30,25,000( which I was not aware of) is recently sold in jan 15 for 1,60,00,000 and I also from amt. received from sale proceeds had paid an advance of 20,00,000 for purchase of another property , please anyone tell me if I will be liable for normal taxation or for capital gain
CAclubindia
