Applicability of sec 234 a in case of non payment of ltcg

Anitha (Articles) (121 Points)

02 June 2015  

Hi Friends,

An Individual Paid tax and filed his return 2 month belatedly for the AY 2009-10 without considering LTCG(he was in the view of agiri land is exempted for Capital Gain).

In scrutiny, Department passed an order mentioning LTCG should be paid, since the said land was not agriculture land as per provision.

Now the query is, Whether sec234A attracts for the LTCG amount not paid?

If so, why?