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Long term bahut purani holding of equity shares ko black or white kha jaayega?

Tax queries 221 views 1 replies

Suppose A B C AND D  buy shares/ equities in year 1992. A B C and D unable to describe the source of funds to buy shares in year 1992 because it is almost 25 years back period. They are not filing the income tax returns because they earn very less money since from 1992.

ONE thing more they are not sell their holding since from 1992.

 A B C an D are brother and sisters.

Now in 2018 those equites termed as white or black money in eyes of income tax department.?

Replies (1)

If the shares are held in the name of A, B, C & D...... no question of unaccounted ownership.

Otherwise Benami property......


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