Income tax

Dear sir, Two individuals purchasing acres of land in joint names and selling them by making plots, how should they be assessed under incometax act , whether as AOp or Individual wise, their profit sharing ratio is 50:50

asked Jun 07 '14 at 20:22 by amjad 1


They should be assessed individually.

answered Jun 07 '14 at 22:36 by Pankaj Batra 5.2k320

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Asked: Jun 07 '14 at 20:22

Seen: 946 times

Last updated: Jun 07 '14 at 22:36