11 July 2016
sir as chakrapani sir said and in seen from the all ITR's there is no seperate space for include this income
it means that there is no need to disclose that income??? OK that income not conceded in the ITR and used for purchase of land more the 30Lakhs using such amount or deposited in FD ( capital gain / other)
when file taken for scrutiny..... then how we can guard us for not disclosing that amount????
or is it better that show as income from LTCG and show as full exempt in any col. of itr ......is it advisable????
11 July 2016
it will be shown in income tax , as gain will be calculated then either applying section 54B or 54, deduction by way of investment in land will shown
CAclubindia
