Pardeep Garg (CA-Final Student) (801 Points)
07 November 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(175487 Points)
Replied 07 November 2017
What is the nature of income earned........... If by sell of the property....... it would be PGBP.
But rental income is treated under income from HP (East India Housing and Land Development Trust Limited v. CIT [1961] 42 ITR 49 (SC))
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 08 November 2017
If you held the property as stock in trade then it's not treated as capital asset in that case it will be taxable under the head of PGBP.
But if the property is not your capital asset in that case it will be taxable under the head of HP.
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