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Income disclosure scheme 2016

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10 June 2016 Under Income Declaration Scheme, If nature of Income is shown as Capital Gain from Sale of Land by an Individual, whether it gives scope to future inquiry from any level. Pls reply through mail rajatsghosh@gmail.com. Thank you.
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Amol S Joglekar

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Amol S Joglekar (Expert)
10 June 2016 No. Not as such. (But there could be intricate issues.....say difference in sale value and stamp duty value.....in such case, Income Tax department can go by 50C......and like instances)
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