Pooja Golani (Direct Tax Executive at Kumar Verma & Associates) (39 Points)
30 January 2014Sir/ Mam,
I have a query regarding capital gain on sale of terrace. Whether sale of terrace will be treated as capital gain or not?
Please guide me on this.
Ankit
(CA, CS)
(3064 Points)
Replied 30 January 2014
Yes Pooja,
It is a capital asset and as such, liable to Capital Gains Tax
Rahul Rohra
(A)
(28 Points)
Replied 30 January 2014
Yes Pooja, as per IT Act Assets means property of any kind...
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