Undisclosed property accounting treatment
This query is : Resolved
Kollipara Sundaraiah
(Querist)
22 November 2021
Sir,
Assess example purchase of property last 4 years ago and assess not show in accounting books.
Question:
Assess undisclosed property in books after 4 years purchase date accepted in it act.
Assess example purchase of property last 4 years ago and assess not show in accounting books.
Question:
Assess undisclosed property in books after 4 years purchase date accepted in it act.
B Sathyanarayanan
(Expert)
22 November 2021
it is better you show now in books of accounts and you have to pay capital gains on tax purchase on last date of acquisition .Better you disclose it now or will be brought in black money act .
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