Sale of one floor
This query is : Resolved
09 May 2016
A person gave construction contract to the builder for construction of 4 floors. one floor is kept by builder and 3 floors are given to owner. Now owner sold one floor out of three. how capital gain shall arise whether one single sale of floor or when all the floors of owner sold on FIFO basis as capital gain calculated in Block method under businees and profession.
09 May 2016
Each floor can be treated as separate asset and capital gain can be calculated separately.
09 May 2016
you are doing the business then your income taxable under income from business & profession
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