Lands buying and selling business comes under which category? Capital gains or PGBP?
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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.