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CAPITAL GAIN ON SALE OF COMMERCIAL PROPERTY

This query is : Resolved 

22 March 2024 DEAR SIR,
WE HAVE PURCHASED A COMMERCIAL PROPERTY BY RS. 2,50,000/- IN OUR PARTNERSHIP FIRM IN THE YEAR OF 2002.
NOW WE PARTNERS ARE GOING TO SELL THIS PROPERTY BY RS 61,00,000/*
SO EXPERTS ,
PLEASE GUIDE ME ABOUT TAXATION IN CAPITAL GAIN ON SALE OF COMMERCIAL TAX.

26 May 2024 For what purpose the land was purchased? Whether it was investment or for construction activity?



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