Dear Sirs: I asking this question because I am not clear. I appreciate your reply in detail.
In Feb-2009: I purchased plot and registered sale deed for 2.5 lacs. I also paid additional 11.0 lacs thru Cheques. That is total of 13.5 lacs for which I have Receipts & sale agreement.
In Mar-12: I sold the same plot for which registered sale deed for 3.0 lacs. Received additional 7.5 lacs thru A/c payee cheque. That is a total of 10.5 lacs thru A/c payee cheques & sale agreement.
Now what is my Tax Implication and How I should show this in my IT returns. Kindly advice me. I am confused. Appreciate your advice. Kindly Reply.
Manjula
CAclubindia
