Income tax on sale of mitti
This query is : Resolved
07 August 2019
SIR WHAT IS THE INCOME TAX IMPLICATIONS ON SALE OF MITTI? UNDER WHICH HEAD IT IS TAXABLE?
07 August 2019
It's taxable as business income.
07 August 2019
but sir he is not doing any business. only once he sold mitti. Enitre sale value is taxable or not ? any expense can be claimed against this ? kindly advice sir
07 August 2019
Expenses can be claimed only profit is taxable.
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