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.
Message likes :
1 times
Praveen Sharma
(Expert)
15 September 2011
PGBP - effectively purpose of business.
Message likes :
1 times
15 September 2011
Since this is your regular business it will come under the head PGBP
Message likes :
1 times
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...
Rajagopalakrishnan R
(Expert)
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.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
