Capital gain
This query is : Resolved
28 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
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
28 June 2012
1. No. The ITO's notice can be challanged.
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