Real estate business -doubt

Dear frds / experts,

Lands buying and selling business comes under which category? Capital gains or PGBP?
Replies (3)
Quick Summary
This discussion clarifies whether the business of buying and selling land falls under Capital Gains or Profit and Gains from Business or Profession (PGBP) for tax purposes. Experts confirm that it is generally considered a business and thus falls under PGBP. While there's an option to choose the declaration pattern in the initial year, consistency is required in subsequent years.

When you say its business..... then obviously under PGBP....

Thank you Sir...

My Pleasure...

Still assessee has an option to select declaration patter in the initial year, but once opted, should declare under the same head in future.

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