capital gains
This query is : Resolved
11 January 2011
in year 1980 i made investment in plot agreemnet in both the husbend $ wife name , in the year 2008 my wife died ,agreemnet divided between my two sons &also me.in the year 2009 we strated construction activity , & construct 44 units ,& show stock in trade , whether conversion of investment in to stock in trade liable to ltcg . please give me section reference & case laws, year of chargebility its urgent
11 January 2011
the amount will be long term capital gains for the year 2009 and will be charged to tax in the year you sell the residential units,
to summerise profit on sale of residential units is business income and the conversion is LTCG.
Any other expert opinion welcome
to summerise profit on sale of residential units is business income and the conversion is LTCG.
Any other expert opinion welcome
11 January 2011
the amount will be long term capital gains for the year 2009 and will be charged to tax in the year you sell the residential units,
to summerise profit on sale of residential units is business income and the conversion is LTCG.
to summerise profit on sale of residential units is business income and the conversion is LTCG.
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
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- FORM 26A APPLICABILITY
- Value of property in capital gain
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
