Which head of income??
This query is : Resolved
23 November 2016
Plots are allotted to me as per joint venture agreement,I'm the owner of the land and joint venture company will build plots and out of 100 plots I got 48 plots.My question is how and which head of income is?I was sold some plots and some of remain as unsold,how should I show this income from sale of plots??
23 November 2016
Such income will be shown under the head capital gains
23 November 2016
Still some plots are left with us,what is my cost of acquisition??I was invested some money in purchasing agricultural land.
Dhirajlal Rambhia
(Expert)
04 November 2021
The capital gains working requires some details like your initial cost of land with any cost of improvement, with year of investments etc.
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