Capital gain and pgbp
This query is : Resolved
26 December 2013
A person is running a property business ie sale and purchase of property. Under which head the profit on sale of property will taxalbe ??
Because the rate of tax under head capital gain is 15% or 20 % and under head PGBP is 30%. So it is benificial to the assessee to pay tax under head capital gain.
So what should he do ??
Because the rate of tax under head capital gain is 15% or 20 % and under head PGBP is 30%. So it is benificial to the assessee to pay tax under head capital gain.
So what should he do ??
26 December 2013
It will come under the Head PGBP as the sale of such buildings are Fixed assets for the buyer but not for the seller..
Capital Gain concept comes when the person doesn't deals in sale or purchase of such assets...
Capital Gain concept comes when the person doesn't deals in sale or purchase of such assets...
26 December 2013
Sir agar koi individual jo property ke sale purchase me deal karta hai... vo tax saving karne ke lia PGBP head me tax pay na kar ke Cap Gain head me tax pay kar ra hai.. Kuki usko pGBP me 30 % tax pay karega of Cap Gain me 15 or 20 % tax pay karega.. To is par Income tax Dept koi question to ni raise karga na... Kuki vo individual ye to specify kar ni raha ke ye uska business hai ya nahi,... kuki agar vo dikhata hai ke ye uska business hai to vo to property uske kia stock consider ho jaygi.. or fir usko 30 % tax pay karna padega...
26 December 2013
Capital Gain me tab hi ayega agar wo uss property owner ho jisse wo sale kar raha hai mere bhai...
26 December 2013
bhai punit,
itna dimag lagao ge to phat jayega...read the act properly and go for structuring not evasion...Its simple, if you own the property, hold it as investment and then sell it, its capital gains. If you are just an intermediary or you are holding the property as stock in trade, it will be pgbp.
itna dimag lagao ge to phat jayega...read the act properly and go for structuring not evasion...Its simple, if you own the property, hold it as investment and then sell it, its capital gains. If you are just an intermediary or you are holding the property as stock in trade, it will be pgbp.
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