Sale out of land in form of colony
This query is : Resolved
12 March 2013
suppose a person get a big agriculutrer land (in Biggas) by his parents and now in present hi use that land by making a colony & plots therin(only Land), so what is tax treatment in the hand of that person? In Which Head we can take tax benefit either by b&p or Capitan gain, which will be suitable for us? what are other legal procedures we have to follow?
18 March 2013
any answer plz
15 August 2023
Better to declare it under head PGBP, after converting the land to stock in trade.
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