19 March 2015
Capital transaction in itr
being a individual if i have sold a building or land and there is no capital gain/loss in the transaction .pls advise whether same is need to be shown in the income tax return and where ?
Your Reply :
20 March 2015
YES, YOU HAVE TO DISCLOSE THE TRANSACTION IN CAPITAL GAIN SECTION. THE PROFIT AND/OR LOSS SHOULD COME TO 0. OTHERWISE YOU MAY BE PENALISED FOR NON-DISCLOSURE.
CAclubindia
