Property tax-capital gain

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Avninder Singh (Querist)
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29 July 2016 I sold inherited flat in 2012 and invested in another property jointly with my sibling . What does non PAN transaction mean for selling house and whether it is considered as undisclosed income in IDS 2016. I want to know whether i will have to pay 45% tax and penalty. As far as I remember we had given a copy of PAN card while selling the flat in the property regn office
PLEASE HELP

Amol S Joglekar

Amol S Joglekar (Expert)
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29 July 2016 no. That is not undisclosed income.
The joint name is put for family convenience and not for creating any undisclosed income...Dont have to worry at all

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