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Capital gain on builder

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 March 2015 Dear Expert

Plz clearify whether capital gain is to be imposed on sale of flat by builder or on treated as business income
( builder used to purchase land and build flat with their cost and with advance money then sale)
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 March 2015 it is treated as buisness income only as the flats unsold are treated as stock in trade and flats are not capital assets
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Rupesh Jain

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Rupesh Jain (Expert)
24 March 2015 its taxable under income from business income.
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