Income from sale of building material

TANVEER AHMED (ENGINEER) (31 Points)

13 April 2018  

Dear Sir,  I had purchased a plot and planned to construct a house on that plot. I had purchased some building material like stones, cement blocks, steel etc. However due to some reason I could not construct the house. I sold the building materials and got back some money. Should  I report this income in the ITR ? If yes, then under which head shall I report this income?  Iis it under Income from Other Sources ? Is such income taxable?

Thanks