It not file and etc

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Jigar Thakkar (Querist)
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31 January 2017 Master's My one client sale letout Reisdental Property in April 2013 AY 2014-15 around Rs.20,00,000/- my Q is 1) LTCG around Rs.7,00,000/- with index and Income Tax Return not file. Notice not received but what s impact if notice received ?? as per my knowledge 5000 Penalty, tax and Interest. any other issue ? how to calculate officer of tax Rs.??? 2) My client property purchase in April 1987. My Q is Purchase agg. not available what is impact of in if scrutiny notice received

Sandeep Dharar

Sandeep Dharar (Expert)
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31 January 2017 If any notice received from the department then u need to pay the Tax with Interest and Penalty,other than that there is no any such legals which u r bound with. I'll suggest to file the undisclosed income ASAP, to avoid more interest.