Sale of property

This query is : Resolved

Share Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

10 June 2016 whether 285BA apply to sale of property?

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

10 June 2016 yes. it is applicable to sale of property. The sub registrar need to report the transactions to Income Tax department as contemplated in section 285 BA

Message likes : 1 times

Rupesh Jain

Rupesh Jain (Expert)
Follow

10 June 2016 285A. Furnishing of information or documents by an Indian concern in certain cases.—Where any share of, or interest in, a company or an entity registered or incorporated outside India derives, directly or indirectly, its value substantially from the assets located in India, as referred to in Explanation 5 to clause (i) of sub-section (1) of section 9, and such company or, as the case may be, entity, holds, directly or indirectly, such assets in India through, or in, an Indian concern, then, such Indian concern shall, for the purposes of determination of any income accruing or arising in India under clause (i) of sub-section (1) of section 9, furnish within the prescribed period to the prescribed income-tax authority the information or documents, in such manner, as may be prescribed.".

any income recd from any property situated in india by a company incorporated out side india through india concern , then indian concern will furnish the detail of income from property. its apply also on sale, renting etc.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

manojkumarkk

rajkumar yadav

C G K MURTHY

CA.Gopal Rathi

MAHESHA RAMANNA

Subscribe Now

Sale of property

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

CA Final

GST CONSULTANCY

Manager- Finance and Compliance

Article Assistant

GST CONSULTANT