Sale of one floor

This query is : Resolved

gaurav (Querist)
Follow

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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

09 May 2016 Each floor can be treated as separate asset and capital gain can be calculated separately.

Rupesh Jain

Rupesh Jain (Expert)
Follow

09 May 2016 you are doing the business then your income taxable under income from business & profession

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

cgagroshg cgagroshg

venkanna setty

Jayaram Bramhajosyula

NITHIN GEORGE

DHRUV PATEL

Subscribe Now

Sale of one floor

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

CA Final

GST CONSULTANCY

Accountant

Article Assistant