27 February 2017
I sold my agriculture land for rs.1000000 and deposited in my account and did not file any returns and used such amount for my personal use in fy 14-15 .
now I got a letter from IT Department to disclose the source.
I want need to do now. and amount of tax to be paid.
27 February 2017
If it is a rural agricultural land situated 8 kms away from municipal limits and situated in a village having population less than 10000 then no tax payable.
CAclubindia
