Tax treatment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2018 Assessee is engaged in the business of letting out of properties for rental income. What is the tax treatment if one of the properties held as stock in trade (for more than one year and its expected rent has been charged to tax under income from Hp in the previous year) has been sold during the year?

Arpit

Arpit (Expert)
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20 February 2018 income from sale of property in your case shall be shown as business income

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