Regarding heads of income
This query is : Resolved
15 September 2011
Income earned from regular sale & purchase of property comes under which head of income?
whether PGBP or Capital gains
whether PGBP or Capital gains
15 September 2011
It is PGBP.
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15 September 2011
PGBP - effectively purpose of business.
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15 September 2011
Since this is your regular business it will come under the head PGBP
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15 September 2011
thanks all for replying...
Further i want to ask that i am not able to get bank overdraft against this business from HDFC Bank .
So from which bank i can get Bank O/D against this business...
Further i want to ask that i am not able to get bank overdraft against this business from HDFC Bank .
So from which bank i can get Bank O/D against this business...
20 September 2011
Each bank may have its own criteria for granting OD. Please look around with other banks in your locality. Many banks now offer someting called an OD against property where one of the properties held by you can be mortgaged and an OD based on its market value raised.
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