Taxation
This query is : Resolved
18 September 2011
Sir
My client had purchased a residential plot in 2006 for Rs10lacs and in 2010 i made an agreement with a builder as a ratio deal and receipts from sale of flats Rs. 30 Lacs/- i.e my clients share and remaining Rs30 lAcs will be of builders share in F.y 2010-11 so can i treat this income as my business or L.T capital gain will imposed onmy client.
My client had purchased a residential plot in 2006 for Rs10lacs and in 2010 i made an agreement with a builder as a ratio deal and receipts from sale of flats Rs. 30 Lacs/- i.e my clients share and remaining Rs30 lAcs will be of builders share in F.y 2010-11 so can i treat this income as my business or L.T capital gain will imposed onmy client.
18 September 2011
It is Long term Capital gain.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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
- Two pancard
- Query Regarding Income Tax Rate on Gain from Transfer of Partnership Stake (LLP Partner)
- Transfer of MF
- Regarding E-invoice Generation
- Can we claim ITC in 28%
- Wrongly goods delivered to other state
- Question of gst and income
- Revenue stamp for individual to Individual
- Issue with PTEC Registration – PAN Already Used
- CERTIFIED TRUE COPY OF PARTNERSHIP DEED
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
