Business income or capital gains?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2018
A urban agriculture land held as investment by an individual transferred to partnership firm in which he is partner. Now that partnership firm sold that land. what will be tax liability in hands of firm ,capital gain or business income if that land was not held as stock in firm?
16 February 2018
it will come under capital gain tax ambit and it will not be a business income
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