In case a person-
1. purchase old commercial building for 50 lakhs
2. gave 10 lakhs to two tenant to leave the shops in the buildings
3. demolish the building and reconstruct (3 floors) it for Rs. 20 lakhs
4. one floor he kept for his busines and another 2 floors sold ( While constructing ) for 20 lakhs.
In this case, whether sale of two floors considered as capital gain or business income? plz suggest .
| Latest response: 11/01/20 | Sort by