Income not shown in ITR
This query is : Resolved
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RAJESH GUPTA
(Querist)
18 March 2024
Sir
Assessee earned a LTCG in the AY 2021-22, purchased property to claimed deduction U/s 54-F. However all these transactions had not been shown in his ITR for AY 2021-22. Now there is scrutiny proceeding U/s 143(2). During course of assessment proceedings can assessee claim the benifit of 54F. Please advise
Assessee earned a LTCG in the AY 2021-22, purchased property to claimed deduction U/s 54-F. However all these transactions had not been shown in his ITR for AY 2021-22. Now there is scrutiny proceeding U/s 143(2). During course of assessment proceedings can assessee claim the benifit of 54F. Please advise
Nikhil Kaushik
(Expert)
18 March 2024
this article may help you - https://database.taxsutra.com/articles/dccd01188bee37a836c51cc7aeab15/expert_article#:~:text=An%20assessee%20is%20entitled%20to,course%20of%20the%20assessment%20proceedings.
19 March 2024
You may claim the deduction at assessment Proceedings stage
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