24 December 2009
Please reply sir /madam If a person sells and buys agriculture land 10 to 12 times in a financial year then whether income will be treated under the head PGBP or IFOS?
24 December 2009
When there are a series of transactions during the year; then it is taken as a Trade i.e. from the nature of transactions it can be established that person has engaged himself in the business of a particular item in which he is dealing.
Hence in above question; the income will be treated under the head PGBP.
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