how to show - profit from sale of land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 July 2011
Facts: aquision cost of land NIL- a capital asset.
purchase/ sale of land not company's business- it is a casual sale.
Company-a pvt. ltd. co., has rental income and income from weigh bridge.
Queries:
whether MAT applicable on sale proceeds of land ?
whether land sold to be shown as business income or capital gains or as income from other sources?
If capital gains then is MAT applicable?
purchase/ sale of land not company's business- it is a casual sale.
Company-a pvt. ltd. co., has rental income and income from weigh bridge.
Queries:
whether MAT applicable on sale proceeds of land ?
whether land sold to be shown as business income or capital gains or as income from other sources?
If capital gains then is MAT applicable?
19 July 2011
It will be shown as capital gain and MAT will not be applicable and tax will be calculated as Short Term or Long Term Capital gain Tax.
Message likes :
1 times
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- TDS on property - Form 141 query
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Loss of interest in PF transfer from EPFO to Trust
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Grand in aid
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
