banner_ad

Real estate business company

This query is : Resolved 
Profile Image

Profile Image

(Querist)
02 June 2012 Hello.........

In Case Of Real Estate Business Company if Company Sells Agricultural Land And Also Purchase Agricultural Land As a Normal Business Activity....
Then What Is the Tax Liability For This Company &
Is Any Exemption Available For Above Transactions......?
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
03 June 2012 The profit arising from such a normal business activity is treated as Business Income and expenditure if any incurred is allowable like other businesses. The Net Income is taxable under the head PGBP..i.e.
Business Income.
.
There is no special exemption available to such companies.
.
Profile Image

Soumitra Basu

Profile Image

Soumitra Basu (Expert)
03 June 2012 Since this is a dealing in agricultural land, the profit shall be taxed as income from business. But, if there is any income from agricultural operation from this land, then the profit should be classified as Agricultural Income and Exempt from Tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details