Capital gains

Saurabh Aggarwal (Querist) 04 August 2013 This query is : Resolved
do the builders who buy a property , build it and sell it within 3 years , not attract short term capital gains .

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ajay sethi (Expert) 04 August 2013
academic query

Raj Kumar Makkad (Expert) 04 August 2013
Commercial query should be got resolved from your own lawyer by incurring some expenses.

Anirudh (Expert) 04 August 2013
In those cases the builders may treat the property as stock-in-trade (instead of investment/capital asset) and as such, as and when they sell the same, whatever profit is gained would be taxed as income from profits and gains business or profession. Therefore, being a non-capital asset, the question of long term / short term capital gain would not arise.

Rajendra K Goyal (Expert) 04 August 2013
Academic query

R.K Nanda (Expert) 04 August 2013
academic query.

DILIP KUMAR AAGARWAL (Expert) 05 August 2013
Builders who buy a property , build it and sell it is income from business and not taxed under head invome from capital gain.

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