Income declaration scheme 2016.
This query is : Resolved
07 September 2016
An individual has never been submitted Income tax Return but who is dealing business of Developer.
Firstly, he with other 2 friends started with business of purchasing land & construction flat on such land. After selling of flat 3 persons distributed profit. Thereafter, one of them started individually promoting business i.e purchasing land & construction of flat on such land. After selling of flat , purchase land. Till date i.e 9.9.2016 assessee having 5 lands, cost around 2 crore & stamp duty value around 3.5 crore. Now assessee wants to avail IDS2016. How to disclosed?
An individual has never been submitted Income tax Return but who is dealing business of Developer.
Firstly, he with other 2 friends started with business of purchasing land & construction flat on such land. After selling of flat 3 persons distributed profit. Thereafter, one of them started individually promoting business i.e purchasing land & construction of flat on such land. After selling of flat , purchase land. Till date i.e 9.9.2016 assessee having 5 lands, cost around 2 crore & stamp duty value around 3.5 crore. Now assessee wants to avail IDS2016. How to disclosed?
08 September 2016
Dear Pinaki,
You can disclose it in ICDS sxheme.
kindly refer the circular no 26/2016 and 27/2016
You can file it online or else take our professional services for that
Hope your query is resolved
Kindly like if my response has helped you
08 September 2016
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