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 .
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Property sold in F .Yr 19-20 but not taken ITR
Replies (4)
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.
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