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Capital gain/ business income

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(Querist)
13 May 2014 If a person in engaged in Business of sale of land and building along with other activities like agriculture and having souce of income classified as " other Income" i.e. Interest income, rent income etc. then income from sale of land and building is to be considered under " capital gain" or " Business Income".

Please also specify how much frequency of transaction of sale and purchase of land and building is required to classified as business income?


Thanks
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
13 May 2014 should be considered as business income. the intention is more relevant rather than frequency.
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