CAPITAL GAIN
This query is : Resolved
Quick Summary
30 January 2021
DEAR SIR,
ONE OF MY CLIENT HAS LAND HE DECIDED TO DEVELOP AS A LAYOUT. HE MADE AGREEMENT BETWEEN THE DEVELOPER AND HIMSELF. NOW MY QUESTION IS GST APPLICABLE TO PLOTS? DEVELOPER HAS TO COLLECT GST FROM MY CLIENT? AND MY CLIENT SHOULD OBTAIN GST REGISTRATION OR JUST FILE INCOME TAX ON CAPITAL GAIN ON SALE OF PLOTS.
CLARIFY ME,
ONE OF MY CLIENT HAS LAND HE DECIDED TO DEVELOP AS A LAYOUT. HE MADE AGREEMENT BETWEEN THE DEVELOPER AND HIMSELF. NOW MY QUESTION IS GST APPLICABLE TO PLOTS? DEVELOPER HAS TO COLLECT GST FROM MY CLIENT? AND MY CLIENT SHOULD OBTAIN GST REGISTRATION OR JUST FILE INCOME TAX ON CAPITAL GAIN ON SALE OF PLOTS.
CLARIFY ME,
31 January 2021
GST not applicable on sale of plots. GST registration not required file ITR under capital gains/ business income.
Message likes :
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31 January 2021
thank you for your replies
regards
regards
31 January 2021
You are welcome..........
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