hello friends gud evng,
Mr.A is an individual engaged in the business of constructing the houses and selling the same.
in F.Y 2011-12 Mr.A constructs 10 houses and sells 5 of them and profit from sale is taxable under the business or profession Remaining 5 houses are neither let out nor sold out.
now my question whether the annual value of the Remaining 5 houses is TAXABLE or NOT?
if taxable under which head it is taxable?
CAclubindia
