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Income tax on sale of mitti

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(Querist)
07 August 2019 SIR WHAT IS THE INCOME TAX IMPLICATIONS ON SALE OF MITTI? UNDER WHICH HEAD IT IS TAXABLE?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 August 2019 It's taxable as business income.
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Sowmya.S.Balan

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Sowmya.S.Balan (Querist)
07 August 2019 but sir he is not doing any business. only once he sold mitti. Enitre sale value is taxable or not ? any expense can be claimed against this ? kindly advice sir
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 August 2019 Expenses can be claimed only profit is taxable.
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