Capital gains
This query is : Resolved
Maunesh Shah
(Querist)
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
(Expert)
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
(Expert)
20 February 2016
File the income tax return is the remedy.
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