One of my uncle was working in abroad for 20 years and he lot of money, He came to India and build a house in the year 2007 approximate worth 40 Lakhs. In the year 2016 he had his saving and he constructed flat and sold for 30 lakh each for 2 parties. Will these income will be taxable under IT? He constructed flat with the money from abroad which he had deposited in FD.
- He has never filled his IT returns.
- Some of the cheque has been deposited to account of his wife and now wife is a agent of insurance company and she is getting commission and TDS has been deducted.
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