Head of Income

if his activity is routine in nature,income wld be classified under PGBP........if not it will be taxable under CAPITAL GAINS..........it wont be taxable under INCOME FROM OTHER SOURCES IN ANY CASE.........books of accounts are required to be maintained if its a business activity and if the clients monetary limits fall under sec 44AA

Agree with ronit
 

capital gain will be attracted.....no books need to be maintained 

provided this is not the business of the person....

I THINK THIS COMES WITHIN THE MEANING OF ADVENTURE IN THE NATURE OF TRADE AND HENCE TO BE CLASSIFIED UNDER THE HEAD PROFITS AND GAINS FROM BUSIENSS AND PROFESSION. FOR MAINTENANCE OF ACCOUNTS, IF THE ASSESSE TOTAL TURNOVER OR NET INCOME IS LESS THAN LIMIT AS PRESCRIBED UNDER 44AA, THEN NO NEED TO MAITAIN ACCOUNTS. HOWEVER, IF IT NOT THEN IT NEEDS TO MAITAIN THE ACCCOUNT..

REGARDS,

MANOJ

Agree with ronit, manoj

Regristration is not relevant in this case. if its a regular activity, its business income. if not, its CG

RONITH IS CORRECT

if the above client has business of buying and selling of properties then it will taxable under the head  income frm BUSINESS & PROFESSION otherwise capital gain will be attracted.....no books need to be maintained provided this is not the business of the person...

income from pgbp

I guess it is capital gains...