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Income Tax - Highlights / Catch Notes

Home Highlights August 2018 Year 2018 This

Nature of sale of land - adventure in the nature of trade or not ...

Income Tax

August 12, 2018

Nature of sale of land - adventure in the nature of trade or not - The very fact that each co-owner separately purchases their lands but only combined for the purpose of sale, does not show any element of carrying out any business for joint profits. - To be taxed as capital gain only.

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