If a person is holding large quantity of silver/gold coins acquired from pre independence period, should he declare the asset under the Income Declaration Scheme,2016? If yes,at what value should it be estimated?
apurva (c.a) (33 Points)
30 June 2016If a person is holding large quantity of silver/gold coins acquired from pre independence period, should he declare the asset under the Income Declaration Scheme,2016? If yes,at what value should it be estimated?
Ayush Poddar
(CA in Practice)
(37 Points)
Replied 30 June 2016
No need to disclose it to the Income tax Department as it is outside the perview of the assessment period of the IT Deparment
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