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Capital gains

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 December 2014 IF A PERSON BUYS AGRICULTURE LAND AND SELLS ON REGULAR BASIS WILL THE CAPITAL GAINS ARISING BE EXEMPTED OR TAXED
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
10 December 2014 if its business then not exempted but taxanle as income from business and profession
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SANYAM ARORA

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SANYAM ARORA (Expert)
10 December 2014 Check the applicability of sec 2(14) of IT Act.

Whether or not is is a capital asset.

Then only we can decide its taxability



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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 October 2021 All depends upon the treatment by assessee. If declared as business income, then assessed u/h. PGBP., otherwise can take advantage of sec. 2(14) of IT act.

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