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Querist : Anonymous

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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???
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 September 2013 YES CAPITAL GAIN IS ATTRACTED IN UR CASE GIVEN FOR FIRSTLY EXTINGUISHMENT OF RIGHTS IN BUILDING AND THEN SELLING THIS FLATS.
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