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Head of the income
on which head the income goes when sale and purchase of land and building is the business of the assesse?
Replies (5)
If it's business of Persons, than under head " Profit and Gain From Business and Profession"
otherwise, under head " Capital Gain"
otherwise, under head " Capital Gain"
Business Income
CA Shubham Gupta
9968983550
But in a book I saw that write it is income from house property
If rent received, than that 'rent income' is income from house Property......not the Purchase and sale of property
It is business income since it your business to purchase and sell house property
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