Long Term Capital Gain

[Guest]

1. Sale of shop premises(owner) in come under Long Term Capital Gain. Shop purchase in the year 1987 and sold January, 2020.

2. Stock in hand was sold in bulk. This is come in business income.

Please advise.

[DR.MARIAPPAN GOVINDARAJAN]

What is the value during the purchase in 1987?

What is the sale amount in January 2020?

The sale amount for stock.

AI Summary

Income Classification: Shop Sale as Long-Term Capital Gains, Stock Sale as Business Income. Details on Sale Values Needed. A query was raised regarding the classification of income from the sale of shop premises and stock. The shop, purchased in 1987 and sold in January 2020, falls under long-term capital gains. The stock sold in bulk is categorized as business income. A response sought details on the original purchase value of the shop, the sale amount in 2020, and the sale amount for the stock to provide further advice.