Transactions treated business or capital gains income

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Kollipara Sundaraiah (Querist)
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13 September 2021 Sir,
A person sales and purchase transactions 6 times one financial year for sale and purchase agricultural land rural area .
Question:
Assess source of income treatment above transactions business income or capital gains tax income in it act.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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13 September 2021 Well , he may be doing business of such lands' sell purchase; but for IT purpose, he may not declare it as business. At the same time, being rural agricultural land/s, its nor capital gain too.
Only condition is that he must first get transferred these agricultural lands in his name with registered sell deeds.

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