Dear All
One of my client has filed the return dated 10.07.2010 but he not show the income from capital gain arise from sold to house property. he also purchased new house property dated 20.7.2010. can assesse furnished the revised return and take the benefit of Sec. 54 of Incomr tax Act.
Return Furnished date 10.7.2010
purchase of new House 20.7.2010
Due DATE oF return 31.07.2010
Yes, u can file revised return and can correct the mistake till 31.03.2012 or till competion of assessment whichever occurs first. So don't be late in filing u'r revised return..
Yes he can do so but make sure Capital Gain must be long term for the applicability of sec 54 :)
inflation index?
i guess 712
How do we use Inflation Index for calculating STCG and LTCG, can someone enlighten?
Simply subtracting the amount we get from sale of shares from the expense to buy those stocks is not the correct way?
DEAR NAVEEN JI
YOU DONT TELL THE DATE OF SELLING OF HOUSE PROPERTY, IF IT IS SELL BEFORE 31ST MARCH ,THEN, YOU SHOULD REVISE YOUR RETURN. OTHERWISE, IF IT IS AFTER 31ST MARCH THEN WAIT FOR THE NEXT OF RETURN FILING DATE UP TO 31ST JULY,2011.
PLEASE TOLD ME THROUGH MESSAGE IS IT BEFORE 31 ST MARCH OR AFTER 31ST MARCH.
THANKS AND REGARDS
DARPAN AGGARWAL
| Originally posted by : OldSchool | ||
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How do we use Inflation Index for calculating STCG and LTCG, can someone enlighten? Simply subtracting the amount we get from sale of shares from the expense to buy those stocks is not the correct way? |
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Hello dear,
Go through this forum and you will get your answer to all questions :)
/forum/long-term-capital-gain-on-unlisted-shares-46852.asp?offset=1
take care
Thanks Sanjay
wellcome bro :)
CAclubindia
