https://www.taxtmi.com/forum/issue?id=121092 Residential property development involving purchase of sites, construction of houses and sale to customers is ordinarily business activity. Where properties are acquired, developed and held for sale, they generally constitute stock-in-trade and the profit is taxable as business income rather than capital gains. Registration in the developer's own name is not determinative. Section 44AD may be considered where eligibility conditions are met, subject to verification of the assessee's status, nature and regularity of activity, holding intention, accounting treatment, and receipt details. GST turnover supports business activity but does not determine the income-tax head. en-us Fri, 28 Aug 2026 18:03:14 +0530 Fri, 28 Aug 2026 20:26:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=121092 Residential property development involving purchase of sites, construction of houses and sale to customers is ordinarily business activity. Where properties are acquired, developed and held for sale, they generally constitute stock-in-trade and the profit is taxable as business income rather than capital gains. Registration in the developer's own name is not determinative. Section 44AD may be considered where eligibility conditions are met, subject to verification of the assessee's status, nature and regularity of activity, holding intention, accounting treatment, and receipt details. GST turnover supports business activity but does not determine the income-tax head. Discussion-Forum Income Tax Fri, 28 Aug 2026 18:03:14 +0530 https://www.taxtmi.com/forum/issue?id=121092