How to declare old property.
This query is : Resolved
07 July 2016
My Client has sold Property at F.Y 2014-15. Result in a capital gain of rs. 20,00,000/- the original property was purchase 20 year back and was not book in the account. the capital gain was not disclosed in return file on a.y. 2015-16 can i declare this income under the income under the new disclose scheme ( Income Declaration Scheme 2016 ) and can i get benefit of indexing.
kindly advise as soon as possible.
kindly advise as soon as possible.
07 July 2016
yes, you can do so. What you need to disclose is the amount of CAPITAL gain. (Obviously it is after INDEXATION)
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