Income from sale of property

Deepanshu Garg (Student) (254 Points)

10 July 2024  
2 clients purchased a plot together for 70 lakhs & constructed home on it for 50 lakhs & sold it for 1.4 crores.
This is their business not capital gain transaction.
Now, their turnover is 70 lakhs each & profit & 10 lakhs each.
Can they file under 44AD or should they file under 44ADA or do they have to file ITR normally ?