Hello,
My uncle has sold a residential property and purchased a new residential property. But while filing income tax return he has not reported in capital gains. Now at the time of scrutiny he has realise it. Assessing officer is not ready to give exemption under section 54 for not reporting in ITR. Can he still claim exemption under section 54?
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Exemption under section 54 of Income Tax Act 1961
Replies (6)
Request to revise the return & condole the penalty is first aid.
Revise return is not possible sir case is of AY 2014-15. Thanks for the reply.
Dear Durgesh,
Kindly try to convince your AO.
kindly like if my response has helped you
Kindly try to convince your AO.
kindly like if my response has helped you
Thank you sir but we tried last time. He told to fight in appeal. Since we don't want go for appeal we are think of any case laws.
Dear Durgesh,
Look generally AO get convinced with the professionals like CAs, Lawyer etc.so if u know any professional person than u can contact him or else u can use our chargeable service.
Because in appeal u will not get any relief as it's against law
kindly like if my response has helped you
Look generally AO get convinced with the professionals like CAs, Lawyer etc.so if u know any professional person than u can contact him or else u can use our chargeable service.
Because in appeal u will not get any relief as it's against law
kindly like if my response has helped you
The statement in one of the answers above ,
"generally AO get convinced with the professionals like CAs, Lawyer etc." gives indication of meeting them in the evening ....& ...let us not give such directive suggestions at the forrum
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