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I.d.s.

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(Querist)
29 September 2016 The party has purchased and sold the property during F.Y. 2012-13. Nothing has disclosed in the books of accounts. Now how to disclose the amount in I.D.S. Shell he pay 45% on total amount recd and closed the matter. Please advise.
Thanking in advance.

K.B.Nagesha Rao.
9448826793
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ACA Anurag

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ACA Anurag (Expert)
29 September 2016 Dear Nagesharao, Yes he can disclose the income subject to such year case is not in scrutiny
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 September 2016 45% has to be paid on the value of asset as on 01/06/2016 purchased/deposit outstanding out of the amount received.
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CA Shubham Vinod Muthiyan

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CA Shubham Vinod Muthiyan (Expert)
29 September 2016 Yes he can provided he have to pay 45% tax on FV of property as on 01.06.2016.
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