Easy Office
LCI Learning

Joint development and income tax implications

This query is : Resolved 

03 September 2016 A group of 6 members wants to develop their joint property into residential and commercial villas and appoint one of the member himself a builder for the same.He got the power to construct and sale.The income from sale of plots and villas will be taxable as business income or capital gains in their hands. How the tax calculations to be done individually?

11 September 2016 PART CAPITAL GAIN PART BUSINESS INCOME. THE SALE OF LAND IS CAPITAL GAIN AND THE SALE OF BUILDING IS BUSINESS INCOME



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query