Capital Gain Tax
This query is : Resolved
23 June 2011
Dear ,
kindly give your valuable opinion for the following prospective transaction.
i have land on which i want to construct an Apartment and sold it to different buyers so what kind of tax treatment applicable i.e. is it Business Profit or Capital Gain?
i also want to retain two flat among them and sale remaining of them to others.
one more thing that shall i go for any partnership transaction i.e. first i will transfer that land to firm and then firm will construct an apartment and then sale it same as above mentioned.
which is more beneficial for tax saving purpose?
Waiting of your expert guidence.
Amit
kindly give your valuable opinion for the following prospective transaction.
i have land on which i want to construct an Apartment and sold it to different buyers so what kind of tax treatment applicable i.e. is it Business Profit or Capital Gain?
i also want to retain two flat among them and sale remaining of them to others.
one more thing that shall i go for any partnership transaction i.e. first i will transfer that land to firm and then firm will construct an apartment and then sale it same as above mentioned.
which is more beneficial for tax saving purpose?
Waiting of your expert guidence.
Amit
24 June 2011
The deal should be treated as business profit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
