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Land purchase will affect the it

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 December 2011 Hi,

I have purchased the Land with full settlement of the value of 100000 in the Nov/2011. Is this affect my income tax FY 11 - 12 or other?
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
10 December 2011 Yes this transaction will be included in your return in FY 2011-12 i.e. in AY 2012-2013.

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