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One doing business of builder means selling buildings and land and also allotted for rent. In his hand his own 10 Properties. He sold 6 Properties, due to some market conditions 4 properties remain unsold and the remaining 4 given for rent. In Which heads, these incomes are charged. ?


Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

10-Jul-21 09:40

373

Answers (11)

Best Answer

Thread Starter

Balamurali Unnithan M S

Both come under PGBP Head. I'm right Ji.?

Income from let out - House property. But there have been case laws in past where courts have allowed it under PGBP


CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

11-Jul-21 17:58

Its explained in videos.


CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

10-Jul-21 09:42

CA Suraj Lakhotia Admin

Its explained in videos.

Both come under PGBP Head. I'm right Ji.?


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

11-Jul-21 16:10

In my question, his business is let out of house properties? Then it comes under PGBP -Head. In -H.P Calculation, there is an exemption "on doing business of let out"? It's going to be the Business Income.


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

11-Jul-21 18:25

Can u check this sir...

Screenshot_20210709-204341_Zoom.jpg

Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

11-Jul-21 19:48

Not sure about the source. As I mentioned earlier that some cases court have held that such income can be considered under PGBP


CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

11-Jul-21 19:52

Can you put your opinion on the scenario I asked? I mention below once. My understanding, It comes under PGBP Head. Because he is a builder and his business is let outing properties. Your opinion is no, what's the reason. Question below "One doing business of builder means selling buildings and land and also allotted for rent. In his hand his own 10 Properties. He sold 6 Properties, due to some market conditions 4 properties remain unsold and the remaining 4 given for rent. In Which heads, these incomes are charged. ?"


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

11-Jul-21 19:59

CA Suraj Lakhotia Admin

Not sure about the source. As I mentioned earlier that some cases court have held that such income can be considered under PGBP

Difficult to believe, it's wrong. He is also a well-known faculty like Indigo Learn Team.

Screenshot_20210711-200100_Office.jpg

Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

11-Jul-21 20:03

Thread Starter

Balamurali Unnithan M S

Difficult to believe, it's wrong. He is also a well-known faculty like Indigo Learn Team.

I have not told that the author is wrong. You can read the various case laws in the attached link. https://www.bangaloreicai.org/downloads/Vijay.pdf


CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

11-Jul-21 20:14

MCQs Now