I am a practicing advocate for the last 20 years
apart from my profession I have been in sale and purchase of lands from 2006 along with some 5 individuals and have executed sale deeds and acquired around 5 properties in and around Hyderabad and Bangalore.
Later I have entered into development agreements for the development of aforesaid properties.
Meanwhile I along with 5 Others have entered into a Partition Deed for the sharing of flats in respect of Bangalore Property.
My question here is, as I am selling my share of flats to the prospective purchasers from the year 2011, can I file my IT returns under Business Tax or is it covered under capital gains, being an individual?
