Income from sale of property
This query is : Resolved
16 April 2018
Sir,
In AY 2015-16, I have paid income tax for the receipt of share of amount against sale of property. Part of the amount was credited in my Bank account only in 2016-17 (in April 2015). Now in my ITR for AY 2016-17, there is a query for the amount credited in the bank account. Shall I reply that this is the amount received as against the transaction shown in my ITR for AY 2015-16 and tax has been paid for that transaction?
In AY 2015-16, I have paid income tax for the receipt of share of amount against sale of property. Part of the amount was credited in my Bank account only in 2016-17 (in April 2015). Now in my ITR for AY 2016-17, there is a query for the amount credited in the bank account. Shall I reply that this is the amount received as against the transaction shown in my ITR for AY 2015-16 and tax has been paid for that transaction?
16 April 2018
Yes, reply as you said.
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