I.d.s.
This query is : Open
k.b.nagesharao
(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
Thanking in advance.
K.B.Nagesha Rao.
9448826793
ACA Anurag
(Expert)
29 September 2016
Dear Nagesharao,
Yes he can disclose the income subject to such year case is not in scrutiny
Message likes :
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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.
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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