Capital gains
This query is : Resolved
Querist : Anonymous
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
10 December 2014
if its business then not exempted but taxanle as income from business and profession
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
Whether or not is is a capital asset.
Then only we can decide its taxability
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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