Respected CACLUB Members,
I have filled my last return but forgot to consider capital gain which arise from sale of land ( capital gain not much ) can it is possible to given capital gain information in my current year IT Return. if i shown capital gain in current IT Return can there any problem arise. please give me information
Thanks you
Hi Amit ,
Capital gain is taxed in the year in which the Transfer of capital asset took place. But not in the subsequent year .
for Ex : sale of land took place in previous year 2015-16 then it is taxed in same Previous year (i.e Assesment year 2016-17)
If u forgotten to include the details u can go for revised return.
CCI
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