Taxation

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kanaklata chauhan (Querist)
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04 December 2012 IF LAND IS PURCHASED UNDER AN JOINT VENTURE FOR CONSTRUCTION OF 20 FLATS OUT OF WHICH EQUALLY DIVIDED B/W 2 PARTNERS ,NOW WHETHER THE SALE INCOME TAXABLE UNDER BGBP OR CAPITAL GAIN????

@VaibhavJ

@VaibhavJ (Expert)
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04 December 2012 Hi

BGBP

Thanks//Vaibhav

kanaklata chauhan

kanaklata chauhan (Querist)
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04 December 2012 pz tell me in detail
with sections

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@VaibhavJ

@VaibhavJ (Expert)
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04 December 2012 Hi

Here it appears that property was constructed for trading purpose hence it is Business Income.

Thanks//Vaibhav
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