whether PGBP or IFOS ?

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pardeep battish (Querist)
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24 December 2009 Please reply sir /madam
If a person sells and buys agriculture land 10 to 12 times in a financial year then whether income will be treated under the head PGBP or IFOS?

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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24 December 2009 When there are a series of transactions during the year; then it is taken as a Trade i.e. from the nature of transactions it can be established that person has engaged himself in the business of a particular item in which he is dealing.

Hence in above question; the income will be treated under the head PGBP.

pardeep battish

pardeep battish (Querist)
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24 December 2009 Thanks sir

Ravinder

Ravinder (Expert)
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24 December 2009 agree with Mr Kumar

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whether PGBP or IFOS ?

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