banner_ad

Income under which head

Final 255 views 2 replies
There is one service provider
who provides the service and instead of consideration he receives land .After sometimes such land is sold then under which head this land is taxable.

2.If this land is taxable in the head of capital gain then what is cost of acquisition of such land.

3. this consideration received is taxable as PGBP INCOME .
Replies (2)
1. The Value of Service if it can be reasonably determined shall be the value of services rendered. If the same cannot be ascertained reasonably,the fair market value of the consideration (land)received shall be the value of service provided.

2. The cost of acquisition shall be the value determined in point 1 above

3. Yes, the value of services calculated as per point 1 shall be taxable under PGBP
I completely agreeing with Point no 1 and 2 but regarding Point no 3, it's income from PGBP if the assesse is a regularly dealing in sake and purchases of land otherwise it's a Capital Gain


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details