there is a plot of land gifted to the grandson, and the grandson is made layout out of that land, and selling the sites now.
whether this should be considerd as capital gains or is it a business income ??
Menu
Capital gains or business income
Replies (1)
Whether the transfer was as stock in trade or as capital asset should be seen. If transfer was as capital asset both capital gains when the capital asset was converted into stock in trade and business income on when the sites were sold will be taxable in the hands of grandson
Recent Topics :
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
Related Topics :
CAclubindia
