Purchase previous transaction show in present year allowed
This query is : Resolved
31 December 2022
Sir,
Sec 44ada professional income it person purchase of agriculture land value rs:10 lacs payment by cash mode in f.y.2016-17 year.if a person purchase transaction missing in f.y.16-17
Question:
Assessess purchase of agriculture land Missing Previous year transaction Present in f.y.21-22 show allowed in it act.
Sec 44ada professional income it person purchase of agriculture land value rs:10 lacs payment by cash mode in f.y.2016-17 year.if a person purchase transaction missing in f.y.16-17
Question:
Assessess purchase of agriculture land Missing Previous year transaction Present in f.y.21-22 show allowed in it act.
31 December 2022
He is not required to show his personal assets in ITR. The agricultural land is not his business asset. There is no option in ITR to declare it in current year. His capital assets can be rectified in his personal BS, even from FY 2016.17 !!
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