Income declaration scheme 2016.
This query is : Resolved
Pinaki Maji
(Querist)
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?
ACA Anurag
(Expert)
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
ACA Anurag
(Expert)
08 September 2016
Already answered the query
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
