Developer
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 September 2013
I HAVE GIVEN A BUILDER OPEN PLOT OF LAND WHICH WAS INHERITED TO MAKE BUILDING.
BUILDER IN EXCHANGE GIVES ME 8 FLATS AND NO CASH AFTER BUILDING IS MADE.I SOLD THIS 8 FLATS AS AND WHEN POSSESSION IS RECEIVED.
RECEIPT RECEIVED FROM SALE OF FLAT IS BUISNESS INCOME OR CAPITAL GAIN???
BUILDER IN EXCHANGE GIVES ME 8 FLATS AND NO CASH AFTER BUILDING IS MADE.I SOLD THIS 8 FLATS AS AND WHEN POSSESSION IS RECEIVED.
RECEIPT RECEIVED FROM SALE OF FLAT IS BUISNESS INCOME OR CAPITAL GAIN???
11 September 2013
YES CAPITAL GAIN IS ATTRACTED IN UR CASE GIVEN FOR FIRSTLY EXTINGUISHMENT OF RIGHTS IN BUILDING AND THEN SELLING THIS FLATS.
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
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Last year TDS Claim
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Long Term Service award taxability in hands of company
- Soyabean hsn code and gst rate
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- LTCG for Assmt year 26-27
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
