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.
Amol S Joglekar
(Expert)
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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