Capital gain

This query is : Resolved

Guest

Guest (Querist)

27 June 2012 THE PERSON SOLD ANCESTRAL OPENLAND FOR RS 1 CRORE ON 6/3/05 HE IS NOT ASSESSED TO INCOME TAX OR NOT HAVING PANCRAD NO HE HAS RECIEVED NOTICE U/S 148 FOR AY 2005/06 ON 04/01/2012

1) WHETHER THE NOTICE ISSUED BY THE INCOME TAX DEPARTMENT IS VALID NOTICE WITHIN TIME LIMIT OR NOT.

2) WHETHER THE PERSON HAS TO FILE THE RETURN SHOWING INCOME OF CAPITAL GAIN

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

28 June 2012 1. Notice u/s 148 can be issued within 6 years from the end of the AY if the amount of income is Rs. 1 lakh or more.

2. Yes, the individual has to show the income under capital gain.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Raviraj ponkshe

Rakesh Bansal

Ajinkya Deshpande

Manish Tiwari

Sandeep Ranjan

Subscribe Now

Capital gain

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

GST CONSULTANCY

CA Final

Manager- Finance and Compliance

Accountant

Senior Executive