A Property Purchased in FY 2009-10 by an Audit Assesse in cash @ 3.5 lac and neither shown in ITR nor in audit report.now in FY 2017-18 it is sold @ 10.5 lac by Bank Cheque. now how much tax the assesse needs to pay and how to show it in books of accounts. and also what to do if scrutiny occurs.
Property purchased but not shown in return and now sold
neeraj rathore (Tax consultant) (27 Points)
12 July 2018