17 December 2022
I have Agricultural Land close to main road of the town. Now i want to develop commercial complex over there after obtaining NA permission. I have intention to sell these commercial shops after receiving BU permission. Hence no issue of GST remained.
Now i have two option to avail for income tax treatment
Option 1:- I need to convert Capital Assets i.e Land or Fully constructed Complex in stock in trade then make sale as goods.
Option 2 :- Sale of each commercial shop as a Capital assets.
Which option is should i go ? If any other option available for Income tax treatment then please inform.
CAclubindia
