TMI BlogTaxability of property held in stock in trade - it is now abundantly clear from Sec. 23(5) that until...Taxability of property held in stock in trade - it is now abundantly clear from Sec. 23(5) that until the completion certificate is not issued by the competent authority and two years thereafter; annual value of the unsold units shall be NIL - since certificate only issued on 01.07.2015, the property in question for the both the assessment years 2011-12 and 2012-13 are not taxable ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
