Poonawalla fincorps
Poonawalla fincorps

deposit of amount by sale of land

This query is : Resolved 

28 May 2018 Respected members, One of my client had deposited an amount of ₹6500000 in saving bank account, mutual funds and shares. The amount is received in consideration of sale of agriculture land (rural). IT deptt had send the notice in the year 2015. Compliance response is showing the same notices. I had filed the response as showing income is not taxable. will deptt issue any further notice after filing response?

30 May 2018 if they have any additional query, then they make issue follow up notices. Is it not obvious?

30 May 2018 In what time period may department issue notice in case of additional query?


30 May 2018 they have a lot of time. Section 148 for example can be done even after 6 years from the end of assessment of year

30 May 2018 AY YEAR IS 2012- 13 SO THEY CAN ISSUE NOTICE TILL 31 MAR 2019?

30 May 2018 refer this https://www.incometaxindia.gov.in/charts%20%20tables/limitation%20periods.htm



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