Dear Learned Member,
Pl. Let me the procedure for registration of NBFC Company under Central Registry of Securitisation Asset Reconstruction and Security Interest of India
reconstruction
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The assessee is a partnership firm engaged in construction activity. In has purchased land during the year 2006-07, and has started construction in 2012 and has done work to the extent of Rs. 50,00,000. Later on due to funds scarcity, it has entered into a development agreement with other company for the construction of flats in 2014. Construction was completed in the year 2018 and land owner has received his share of flats and started selling its share. How to treat the same in the books of landowner who is engaged in same business. Whether to calculate capital gains or business income. Kindly explain.
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construction
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development
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