whether person carrying land and building business, is he fall in sec 50 C catagory ?
3 Replies
Sunshine
(Helping All)
(10575 Points)
Replied 25 June 2011
i dont think so....if he runs a business where is the question of capital gain?
chaitanya cherukuri
(Articled Student)
(241 Points)
Replied 25 June 2011
First to attract dis section an asset shud be capital asset. Stock in trade is not a capital asset hence no application of sec.50c
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 26 June 2011
| Originally posted by : chaitanya cherukuri | ||
 |
First to attract dis section an asset shud be capital asset. Stock in trade is not a capital asset hence no application of sec.50c |
 |
NO
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