07 July 2016
My Client has sold Property at F.Y 2014-15. Result in a capital gain of rs. 20,00,000/- the original property was purchase 20 year back and was not book in the account. the capital gain was not disclosed in return file on a.y. 2015-16 can i declare this income under the income under the new disclose scheme ( Income Declaration Scheme 2016 ) and can i get benefit of indexing. kindly advise as soon as possible.
07 July 2016
Yes you can disclose the same and get the benifit of indexation.but i would suggest it is the case of F.Y 2014-15 so you have an option to file a revised return.According to me better if u revise your return..
CAclubindia
