Menu
Capital gain
Hello,
I have an agricultural land and on that I made some commercial shops,
now I am selling the same, whatever the profit I get how I will treat it in my Income Tax Return?
Will it be considered a Capital Gain or not?
Replies (4)
Taxable. May be as Business profit or Capital Gains depending upon your intention and nature of the activity.
Thank u Sir.
Sir What cost should be taken in case of property (Agri Land) is inherent (varsai)
@ Nitin: Cost as of original purchaser (of for-father), if purchased after April, 1981. But otherwise Valuation as on 1st April, 1981. (till AY 2017-18)
Recent Threads
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
- Tds penalty for in operative pans
- TDS on Property- 26QB filing Doubt
- HSN code for Exempted supplies
- HSN Summary of Outward Supplies (Sales and Advance
- Joint Venture address proof under GST
- Leave encashment exemption limit
Related Threads
CAclubindia
