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Applicability of Income Tax in case of Construction of commercial complex

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Astaf Mansuri (Querist)
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17 December 2022 I have Agricultural Land close to main road of the town. Now i want to develop commercial complex over there after obtaining NA permission.
I have intention to sell these commercial shops after receiving BU permission. Hence no issue of GST remained.

Now i have two option to avail for income tax treatment

Option 1:- I need to convert Capital Assets i.e Land or Fully constructed Complex in stock in trade then make sale as goods.

Option 2 :- Sale of each commercial shop as a Capital assets.

Which option is should i go ? If any other option available for Income tax treatment then please inform.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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17 December 2022 You can convert land to stock in trade, constructs complex & sell the shops.

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