Room in chawl bought in 2016 ( Rs.14lacs) and sold out (Rs. 19lacs ) in jan 2020.
Mistakenly not considered in Asst.yr. 20-21. profit on sale of property is 5lacs. can I take in Asst yr. 21-22. cost of index will apply of f.yr 19-20 or 20-21.
pls help .
Menu
Property sold in F .Yr 19-20 but not taken ITR
Replies (4)
Quick Summary
Whether the payment received by any banking mode or by CASH?
Whether the agreement registered with Sub-Registrar? or before any Judge?
Thanks for response. well, Payment received in cash. Agreement before judge ( Notarized).
regarding cost of inflation?
regarding cost of inflation?
Firstly, the document is not valid document as per Transfer act.
Moreover, you and the purchaser both will be in trouble if you try to declare the HIGH VALUE CASH TRANSACTION, WHICH IS BARRED AFTER SINCE 2016.
YOU SHOULD HAVE ASKED FOR BANK TRANSFER OR CHEQUE.
Thanks for cooperation.
Recent Topics :
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
Related Topics :
CAclubindia
