Capital introduced

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15 Points Posted on 26 February 2021
I received 2000000/- rupees agst unregistered land selling
what I show entry in my account or income tax
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On 26 February 2021 at 11:20 Report
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This discussion explores the tax implications of receiving a large sum from an unregistered land sale. The user questions whether to declare it as income, specifically capital gains (LTCG) at 20%, or as 'capital introduced'. Concerns are raised about potential scrutiny from tax authorities, especially since the buyer is likely to declare the transaction, which could appear in SFT reporting and 26AS.

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Chartered Accountant
24588 Points Posted on 26 February 2021
It is income from capital gain LTCG @ 20% will be imposed
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On 26 February 2021 at 11:58
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15 Points Posted on 26 February 2021
If I show in capital introduced what problem I facw
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On 26 February 2021 at 12:00
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17269 Points Posted on 26 February 2021
The buyer will definitely show in return. or it will come under SFT in 26AS.
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On 26 February 2021 at 18:06

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