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capital gain

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a person who engaged in the business of sale and purchase of property will be eligible for for paying capital gain tax?

Replies (2)

No. A person doing the business of sale and purchase of property will not be eligible for paying capital gain tax. Once the Capital Asset is used as a stock in trade then no CAP GAIN TAX applicable on the same

 

Originally posted by :amar preet singh
" a person who engaged in the business of sale and purchase of property will be eligible for for paying capital gain tax? "


 

W.e.f.A.Y.1984-85 covertion of stock in trade is liable for capital gain but selling of goods/stock is taxable under B&P head.


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