Tax on sale of property

Tax queries 110 views 2 replies

I had purchased a Plot of Land in the year 1983. In the F.Y. 2017-18, I constructed a commercial building on the said land and Sold all the Shops in the building to different parties in the same year. 

I want to inquire whether I am eligible for the indexation benefit on the land as I am not a Promoter.

Replies (2)

Yes

(otherwise also it gets converted to stock, in the year of construction at FMV)

 

it's adventure in the nature of trade... so no indexation can be availed


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