GST Plus - Get Daily updates,support, whatsapp Group & reply to GST Notices etc.!! Call : 011-411-70713 !!

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Sarthak (Chartered Accountant)     30 July 2013

Ltcg u/s 10(38) necessary to be shown in itr?

Hi,

I am having LTCG u/s 10(38) after paying STT in my firm which is having turnover of more than 1 crore (means audit case). Now is it necessary to show that 10(38) income in my ITR. I don't want to show that income in my ITR, so can i do that. If yes please provide supportive law or section and if no then again with supportive law and section.

And suppose if i choose to skip that income what will be the consequences of the same (with supportive law and section).

Please provide the answer asap bcz 31st is tomorrow and i have to final my return.

Hope i am not asking much. :)

Thank You

Regards



 3 Replies

CA. Kunal Lakhotia

CA. Kunal Lakhotia (ACA)     30 July 2013

subject income needs to reported under exempt income in ITR

Sarthak

Sarthak (Chartered Accountant)     30 July 2013

@ CA Kunal

 

Thank You for your reply sir but if i am not wrong then there is no provision under law which make us compulsory to report that exempt income in our ITR.... ??? And if we don't have any provision for this then will there be any consequences if we don't show that exempt income in ITR....???

CA. Kunal Lakhotia

CA. Kunal Lakhotia (ACA)     30 July 2013

hey, der r no provisions for certain other things also. if RoI demands something then u need to fill it if its applicable on you. If u dont then u might escape from AO assessment. if u dont, then u never knw what he is upto. Taking risk is nt a gd option in income tax


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags