Capital gain
This query is : Resolved
20 March 2017
My father expired in the month of December 2016 before he sold a vacant land in municipality area worth of Rs.6,00,000/- and he was deposited in his savings bank account, is there any capital gain applicable to his legal heirs or not, reply me soon waiting for your compliance and oblige
20 March 2017
Capital gain applicable to the deceased only but tax has to be paid by the legal heirs and return to be filed as legal heir in the name of deceased.
20 March 2017
when i filed in case of business u/s 44AD with 8% calculation they are asking for accounts
20 March 2017
They have no legal right to ask the account. Say you have not maintained accounts.
20 March 2017
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20 March 2017
Nature of business is job work with tailoring, stitching of ladies clothes on daily contract basis i have filed my return of income for the assessment year 2015-2016 on 20/02/2016, but the CPC BANGALORE send the notice u/s 139(9) of the income tax act as a defective return and asked to submit the reply in 15 days of mean time but we have not replied for the said notice in the prescribed time , and recently we received that your return is lapsed and have to file fresh return what is the procedure i have to follow and in which section i have to file fresh return form, please suggest me waiting for your early compliance and oblige.
20 March 2017
File ITR u/s139(4) as belated original return before this March.
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