Capital gain on builder
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 March 2015
Dear Expert
Plz clearify whether capital gain is to be imposed on sale of flat by builder or on treated as business income
( builder used to purchase land and build flat with their cost and with advance money then sale)
Plz clearify whether capital gain is to be imposed on sale of flat by builder or on treated as business income
( builder used to purchase land and build flat with their cost and with advance money then sale)
24 March 2015
it is treated as buisness income only as the flats unsold are treated as stock in trade and flats are not capital assets
24 March 2015
its taxable under income from business income.
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