Is an asset purchased not for business to be informed to itd
This query is : Resolved
CA P.Vasudeva Rao
(Querist)
04 December 2012
Dear Sir,
Please clarify my doubt. If any person having no business income purchased an asset e.g I bought an asset not for the purpose of business is required to inform IT Department in the form of ITR or any other mode?
Thank you.
Please clarify my doubt. If any person having no business income purchased an asset e.g I bought an asset not for the purpose of business is required to inform IT Department in the form of ITR or any other mode?
Thank you.
04 December 2012
Earlier AIR was to be filed by an assessee in respect of specified purchases. However this requirement has now been done away and the assessee is not required ot furnish any information.
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