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TAX ON SALE OF PROPERTY, Income Tax

Issue Id: - 113630
Dated: 17-4-2018
By:- pradeep kumar l
TAX ON SALE OF PROPERTY

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Sir, In AY 2015-16, I have paid income tax for the receipt of share of amount against sale of property. Part of the amount was credited in my Bank account only in 2016-17 (in April 2015). Now in my ITR for AY 2016-17, there is a query for the amount credited in the bank account. Shall I reply that this is the amount received as against the transaction shown in my ITR for AY 2015-16 and tax has been paid for that transaction?

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1 Dated: 24-7-2018
By:- DR.MARIAPPAN GOVINDARAJAN

Yes. You may reply with documentary evidences and calculations for the year in which you have paid tax in full.


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