An assessee, doctor by profession, is having two PMS account and one Ordinary DP account. For the last two years income from PMS account was treated as Business Income. But this year if the same method is followed tax liability will be more. So can PMS be treated as Short Term Capital Gain? What are the tax implications of doing so?
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Pms -capital gain or business income?
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I too have got the same query but for a different client
Members please solve the query.
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