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Querist : Anonymous

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Querist : Anonymous (Querist)
27 March 2012 Can I file a Income Tax Return for the Financial Year 2003-04 to 2010-11 in Financial Year 2011-12.
if Yes What its Procedure.
4. I have a rented commercial property in Shopping Mall, which was purchased in 2007-08, if i sale this property, profit on sale of mentioned property calculate as capital gain in income tax.

28 March 2012 1. You can file the returns only for FY 09-10 and 10-11. The other returns are now time barred.

Further, penalty may be levied for delayed filing of return for FY 09-10.

You have to file the returns by 31.3.2012

2. Profit on sale of commercial property shall be taxable as Long Term Capital Gain.


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