Capital gains

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Maunesh Shah (Querist)
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20 February 2016 sir, my grandfather has sold land for government acquisition.in that capital gains of 70 laks rs. and till nw nt even a single return has been filed by them and they don't want to file also. so what are the remedies. ..

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 February 2016 I believe you are a practicing CA. So, think, does it matter whether they want to file the return or not? the transaction is anyways above threshold limit to be reported to Income-tax department anyways through government channels. So one way or the other the return will have to be filed - file it on your own or wait till the time you get a 142(1) notice!

Amol S Joglekar

Amol S Joglekar (Expert)
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20 February 2016 File the income tax return is the remedy.

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