Return filing
This query is : Resolved
04 April 2016
Assessee filed return for A Y 2012-13 but failed to show Capital Gain on land sale in return and pay tax thereon.
Now during inquiry of the buyer of the land, assessee was asked by AO u/s 133(6) to furnish details of transaction. After noticing that Capital gain tax is not paid, he is insisting to pay the same. (This AO is different from Assessee's AO) Assessee wants to pay tax with interest. But how to file return? Because time limit for revising return is expired and there is no notice issued u/s 148.
Now during inquiry of the buyer of the land, assessee was asked by AO u/s 133(6) to furnish details of transaction. After noticing that Capital gain tax is not paid, he is insisting to pay the same. (This AO is different from Assessee's AO) Assessee wants to pay tax with interest. But how to file return? Because time limit for revising return is expired and there is no notice issued u/s 148.
04 April 2016
Return can not be revised now. Just pay Tax along with interest and intimate the same to both the Assessing Officers enclosing a copy of challan along with the letter.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Taxability of credit in canara bank ET & T section (NRO)
- Difff in ais receipts and gst turnover
- Banking Related Issue
- TDS on rent received on hardship compensation being rent on redevelopment of building
- NRI INSURANCE ADVISOR
- Traces submitting correction statement error
- Loss of interest in PF transfer from EPFO to Trust
- CLOSING STOCK QUERY
- F&O reporting in ITR
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
