Income earned by a sole proprietor by transfer of a Land and building which is registered under the propritory concern attracts capital gain or it should be considered as business income
Income earned by a sole proprietor by transfer of a Land and building which is registered under the propritory concern attracts capital gain or it should be considered as business income
Yes agreed with Raj, it depends!!! as if the proprietory concern is involved in the business of Real estate then the land would be its stock in trade and hence any profit from sale of the land would come under the purview of PGBP otherwise it will attract Capital Gain.
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